Zacks Investment Research upgraded shares of SandRidge Energy, Inc. (NYSE:SD) from a sell rating to a hold rating in a report published on Wednesday.
According to Zacks, “SandRidge Energy, Inc. is an oil and natural gas company. It engaged in the development and production activities of oil and gas. The company’s operating segment consists of Exploration and Production, Drilling and Oil Field Services and Midstream Gas Services. Exploration and Production segment is engaged in the acquisition, development and production of oil and natural gas properties. Drilling and Oil Field Services segment is engaged in the contract drilling of oil and natural gas wells. Midstream Gas Services segment is engaged in the purchasing, gathering, treating and selling of natural gas. SandRidge Energy, Inc. is headquartered in Oklahoma City, OK. “
Several other research analysts have also weighed in on SD. Seaport Global Securities lowered shares of SandRidge Energy from a buy rating to a neutral rating and set a $17.00 price objective on the stock. in a research note on Wednesday, June 21st. ValuEngine lowered shares of SandRidge Energy from a buy rating to a hold rating in a research note on Friday, September 8th.
SandRidge Energy (SD) traded down 2.67% during midday trading on Wednesday, hitting $18.96. 90,146 shares of the stock were exchanged. The firm has a market capitalization of $648.07 million and a price-to-earnings ratio of 1.89. SandRidge Energy has a one year low of $15.03 and a one year high of $26.85. The company has a 50 day moving average price of $18.89 and a 200 day moving average price of $18.63.
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A number of institutional investors and hedge funds have recently made changes to their positions in SD. Bank of New York Mellon Corp lifted its stake in SandRidge Energy by 17.7% in the first quarter. Bank of New York Mellon Corp now owns 17,238 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 2,588 shares in the last quarter. United Services Automobile Association raised its holdings in shares of SandRidge Energy by 65.3% in the first quarter. United Services Automobile Association now owns 121,955 shares of the oil and natural gas company’s stock valued at $2,255,000 after purchasing an additional 48,170 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of SandRidge Energy by 114.1% in the first quarter. Principal Financial Group Inc. now owns 180,244 shares of the oil and natural gas company’s stock valued at $3,333,000 after purchasing an additional 96,039 shares during the last quarter. California Public Employees Retirement System acquired a new stake in shares of SandRidge Energy in the first quarter valued at approximately $209,000. Finally, Laurion Capital Management LP acquired a new stake in shares of SandRidge Energy in the first quarter valued at approximately $309,000. 19.81% of the stock is currently owned by hedge funds and other institutional investors.
About SandRidge Energy
SandRidge Energy, Inc is an oil and natural gas company. The Company is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. It operates through two segments: exploration and production, which is engaged in the exploration and production of oil and natural gas properties and includes its proportionate share of the activities of the SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust (the Royalty Trusts), and midstream services, which coordinates the delivery of electricity to its exploration and production operations in the Mid-Continent.
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