SandRidge Energy (NYSE:SD) Shares Gap Down After Earnings Miss

SandRidge Energy, Inc. (NYSE:SD)’s share price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $18.08, but opened at $17.09. SandRidge Energy shares last traded at $17.31, with a volume of 111,879 shares traded.

The oil and natural gas company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). SandRidge Energy had a return on equity of 11.58% and a net margin of 42.42%.The business had revenue of $39.40 million for the quarter, compared to analyst estimates of $43.70 million.

SandRidge Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 20th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 dividend on an annualized basis and a yield of 2.8%. SandRidge Energy’s payout ratio is currently 26.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded SandRidge Energy from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings restated a “hold (c)” rating on shares of SandRidge Energy in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, SandRidge Energy currently has a consensus rating of “Hold”.

Institutional Trading of SandRidge Energy

A number of large investors have recently made changes to their positions in SD. PNC Financial Services Group Inc. lifted its holdings in SandRidge Energy by 2,011.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,632 shares of the oil and natural gas company’s stock valued at $39,000 after purchasing an additional 3,460 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of SandRidge Energy by 92.8% in 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 buying an additional 1,854 shares during the last quarter. CWM LLC lifted its stake in shares of 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 buying an additional 4,640 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of SandRidge Energy by 391.0% during the fourth quarter. State of Alaska Department of Revenue now owns 6,604 shares of the oil and natural gas company’s stock valued at $94,000 after buying an additional 5,259 shares during the period. Finally, NewEdge Advisors LLC boosted its position in SandRidge Energy by 11.1% during the third quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock worth $113,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 61.84% of the company’s stock.

SandRidge Energy Trading Down 5.1%

The company’s 50 day simple moving average is $15.73 and its 200 day simple moving average is $13.69. The stock has a market capitalization of $630.61 million, a PE ratio of 9.63 and a beta of 0.55.

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.