SandRidge Energy (NYSE:SD) Hits New 1-Year High – Here’s What Happened

SandRidge Energy, Inc. (NYSE:SD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.07 and last traded at $17.00, with a volume of 340442 shares changing hands. The stock had previously closed at $16.81.

Wall Street Analyst Weigh In

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

SandRidge Energy Stock Up 1.1%

The company’s 50-day moving average is $14.84 and its two-hundred day moving average is $12.92. The company has a market cap of $625.09 million, a P/E ratio of 9.55 and a beta of 0.58.

Institutional Investors Weigh In On SandRidge Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of SandRidge Energy by 1.8% in the first quarter. Empowered Funds LLC now owns 139,197 shares of the oil and natural gas company’s stock valued at $1,590,000 after purchasing an additional 2,518 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in SandRidge Energy during the 2nd quarter valued at $140,000. CWM LLC boosted its holdings in shares of SandRidge Energy by 2,109.1% in the second quarter. CWM LLC now owns 4,860 shares of the oil and natural gas company’s stock worth $53,000 after acquiring an additional 4,640 shares during the period. Privium Fund Management B.V. grew its position in shares of SandRidge Energy by 58.9% in the second quarter. Privium Fund Management B.V. now owns 37,022 shares of the oil and natural gas company’s stock valued at $401,000 after purchasing an additional 13,722 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of SandRidge Energy by 138.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 32,134 shares of the oil and natural gas company’s stock valued at $348,000 after purchasing an additional 18,631 shares in the last quarter. 61.84% of the stock is currently owned by institutional investors.

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.