SandRidge Energy (NYSE:SD) Sets New 12-Month High – Here’s Why

SandRidge Energy, Inc. (NYSE:SD) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $17.50 and last traded at $17.47, with a volume of 32224 shares trading hands. The stock had previously closed at $17.00.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wall Street Zen raised SandRidge Energy from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings reaffirmed 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, SandRidge Energy presently has a consensus rating of “Hold”.

SandRidge Energy Trading Up 1.6%

The stock has a fifty day simple moving average of $15.07 and a two-hundred day simple moving average of $13.19. The firm has a market cap of $635.39 million, a PE ratio of 9.71 and a beta of 0.58.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Icahn Carl C lifted its position in SandRidge Energy by 0.8% during the fourth quarter. Icahn Carl C now owns 4,911,564 shares of the oil and natural gas company’s stock valued at $70,874,000 after purchasing an additional 41,331 shares during the last quarter. Vanguard Group Inc. raised its position in shares of SandRidge Energy by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,262,914 shares of the oil and natural gas company’s stock valued at $25,526,000 after buying an additional 10,142 shares in the last quarter. First Wilshire Securities Management Inc. raised its position in shares of SandRidge Energy by 5.2% during the 4th quarter. First Wilshire Securities Management Inc. now owns 1,400,977 shares of the oil and natural gas company’s stock valued at $20,216,000 after buying an additional 69,093 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of SandRidge Energy by 2.6% during the 3rd quarter. Royce & Associates LP now owns 1,275,040 shares of the oil and natural gas company’s stock worth $14,382,000 after acquiring an additional 31,789 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in SandRidge Energy by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,255,062 shares of the oil and natural gas company’s stock worth $18,111,000 after acquiring an additional 10,621 shares in the last quarter. 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.