SandRidge Energy (NYSE:SD) Announces Earnings Results, Beats Expectations By $0.13 EPS

SandRidge Energy (NYSE:SD) announced its earnings results on Wednesday. The oil and natural gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.51 by $0.13, Zacks reports. The firm had revenue of $54.42 million for the quarter, compared to the consensus estimate of $49.00 million. SandRidge Energy had a net margin of 46.06% and a return on equity of 13.62%.

SandRidge Energy Trading Down 5.8%

Shares of NYSE SD traded down $0.77 during mid-day trading on Wednesday, hitting $12.61. The company had a trading volume of 541,130 shares, compared to its average volume of 338,969. The firm has a 50-day simple moving average of $14.12 and a two-hundred day simple moving average of $14.92. The company has a market capitalization of $467.43 million, a PE ratio of 5.63 and a beta of 0.74. SandRidge Energy has a one year low of $11.96 and a one year high of $18.45.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SD shares. Wall Street Zen cut shares of SandRidge Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research raised shares of SandRidge Energy to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings upgraded shares of SandRidge Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Three analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

About SandRidge Energy

SandRidge Energy, Inc is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on acquiring, developing and operating oil and gas properties in the Mid-Continent region of the United States.

SandRidge’s operations have historically centered on the Mississippian Lime formation, which extends across northern Oklahoma and southern Kansas. Its production portfolio includes crude oil, natural gas and natural gas liquids, supported by operated drilling, production and field-development activities.

Founded in 2006 by Tom Ward, SandRidge Energy became a publicly traded company and later completed a financial restructuring under Chapter 11 bankruptcy protection in 2016.