SandRidge Energy (NYSE:SD) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of SandRidge Energy, Inc. (NYSE:SD) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.01 and traded as high as $14.40. SandRidge Energy shares last traded at $14.38, with a volume of 90,951 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of SandRidge Energy in a report on Monday. Wall Street Zen cut shares of SandRidge Energy from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

SandRidge Energy Stock Down 0.4%

The stock has a market capitalization of $526.55 million, a P/E ratio of 8.04 and a beta of 0.54. The business has a fifty day moving average price of $13.58 and a 200-day moving average price of $12.03.

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

SandRidge Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a $0.12 dividend. The ex-dividend date was Friday, November 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.4%. SandRidge Energy’s payout ratio is currently 26.97%.

Institutional Investors Weigh In On SandRidge Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its stake in SandRidge Energy by 229.3% during the 2nd quarter. Signaturefd LLC now owns 3,056 shares of the oil and natural gas company’s stock valued at $33,000 after buying an additional 2,128 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of 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 during the period. Tower Research Capital LLC TRC increased its position 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 valued at $42,000 after acquiring an additional 1,854 shares during the last quarter. CWM LLC increased its position in SandRidge Energy by 2,109.1% during the second quarter. CWM LLC now owns 4,860 shares of the oil and natural gas company’s stock valued at $53,000 after acquiring an additional 4,640 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in SandRidge Energy by 344.3% in the second quarter. Parallel Advisors LLC now owns 8,366 shares of the oil and natural gas company’s stock valued at $91,000 after acquiring an additional 6,483 shares during the period. Hedge funds and other institutional investors own 61.84% of the company’s stock.

SandRidge Energy Company Profile

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.