SandRidge Energy (NYSE:SD) Sets New 52-Week High – Still a Buy?

SandRidge Energy, Inc. (NYSE:SD) reached a new 52-week high during trading on Wednesday . The stock traded as high as $16.61 and last traded at $16.3290, with a volume of 16605 shares changing hands. The stock had previously closed at $16.04.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SD shares. Wall Street Zen upgraded shares of SandRidge Energy from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of SandRidge Energy in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

SandRidge Energy Stock Performance

The company’s 50 day simple moving average is $14.79 and its 200-day simple moving average is $12.84. The firm has a market capitalization of $619.57 million, a PE ratio of 9.47 and a beta of 0.58.

SandRidge Energy (NYSE:SD) last released its quarterly earnings results on Wednesday, November 5th. The oil and natural gas company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.10. The firm had revenue of $39.82 million for the quarter, compared to analysts’ expectations of $38.80 million. SandRidge Energy had a net margin of 42.42% and a return on equity of 11.58%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SD. PNC Financial Services Group Inc. grew its position in SandRidge Energy by 2,011.6% in the second quarter. PNC Financial Services Group Inc. now owns 3,632 shares of the oil and natural gas company’s stock worth $39,000 after acquiring an additional 3,460 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in SandRidge Energy by 92.8% during the second quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the oil and natural gas company’s stock worth $42,000 after purchasing an additional 1,854 shares during the last quarter. CWM LLC boosted its holdings in shares of SandRidge Energy by 2,109.1% in the 2nd quarter. CWM LLC now owns 4,860 shares of the oil and natural gas company’s stock worth $53,000 after purchasing an additional 4,640 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of SandRidge Energy by 391.0% in the 4th quarter. State of Alaska Department of Revenue now owns 6,604 shares of the oil and natural gas company’s stock worth $94,000 after purchasing an additional 5,259 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of SandRidge Energy by 11.1% during the 3rd quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock valued at $113,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 61.84% of the company’s stock.

About SandRidge Energy

SandRidge Energy, Inc (NYSE: SD) is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge’s asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency.

Founded in 2006 by industry veteran Tom L.