SandRidge Energy (NYSE:SD) Lowered to “Strong Sell” Rating by Freedom Capital

Freedom Capital downgraded shares of SandRidge Energy (NYSE:SD) from a strong-buy rating to a strong sell rating in a research report released on Tuesday,Zacks.com reports.

SD has been the topic of a number of other reports. Wall Street Zen downgraded shares of SandRidge Energy from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings raised shares of SandRidge Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SandRidge Energy has a consensus rating of “Hold”.

SandRidge Energy Stock Performance

Shares of SD opened at $16.84 on Tuesday. The business’s fifty day moving average price is $15.95 and its two-hundred day moving average price is $13.88. The firm has a market capitalization of $620.18 million, a price-to-earnings ratio of 8.86 and a beta of 0.55. SandRidge Energy has a 52 week low of $8.81 and a 52 week high of $18.45.

SandRidge Energy (NYSE:SD) last issued its quarterly earnings results on Wednesday, March 4th. The oil and natural gas company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $39.40 million for the quarter, compared to analyst estimates of $43.70 million. SandRidge Energy had a net margin of 44.90% and a return on equity of 11.24%.

SandRidge Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 2.9%. SandRidge Energy’s dividend payout ratio is presently 25.26%.

Hedge Funds Weigh In On SandRidge Energy

Institutional investors have recently modified their holdings of the stock. Icahn Carl C raised its position in shares of SandRidge Energy by 0.8% in the 4th 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 acquiring an additional 41,331 shares during the period. Vanguard Group Inc. grew its holdings in SandRidge Energy by 0.5% during the third 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 purchasing an additional 10,142 shares during the period. First Wilshire Securities Management Inc. increased its stake in SandRidge Energy by 5.2% in the fourth 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 purchasing an additional 69,093 shares in the last quarter. Royce & Associates LP raised its holdings in SandRidge Energy by 2.6% in the third quarter. Royce & Associates LP now owns 1,275,040 shares of the oil and natural gas company’s stock worth $14,382,000 after purchasing an additional 31,789 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings 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 purchasing an additional 10,621 shares during the period. 61.84% of the stock is currently owned by institutional investors and hedge funds.

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.