SandRidge Energy (NYSE:SD) Upgraded at Freedom Broker

Freedom Broker upgraded shares of SandRidge Energy (NYSE:SD) from a hold rating to a buy rating in a report released on Tuesday, MarketBeat reports. The firm currently has $14.00 target price on the oil and natural gas company’s stock.

A number of other analysts also recently commented on SD. Zacks Research raised shares of SandRidge Energy to a “hold” rating in a report on Monday, October 5th. Weiss Ratings raised shares of SandRidge Energy from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, Wall Street Zen raised shares of SandRidge Energy from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, SandRidge Energy currently has a consensus rating of “Hold” and an average price target of $14.00.

SandRidge Energy Stock Performance

Shares of NYSE SD opened at $13.15 on Tuesday. The firm has a market capitalization of $487.92 million, a P/E ratio of 5.00 and a beta of 0.74. SandRidge Energy has a one year low of $11.95 and a one year high of $18.45. The company’s fifty day moving average is $13.94 and its two-hundred day moving average is $14.84.

SandRidge Energy (NYSE:SD) last posted its quarterly earnings results on Wednesday, November 4th. The oil and natural gas company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.13. The business had revenue of $54.42 million for the quarter, compared to analysts’ expectations of $49.00 million. SandRidge Energy had a net margin of 50.14% and a return on equity of 14.68%. On average, sell-side analysts forecast that SandRidge Energy will post 2.13 earnings per share for the current fiscal year.

SandRidge Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, November 19th. SandRidge Energy’s payout ratio is presently 19.77%.

Institutional Trading of SandRidge Energy

Several large investors have recently bought and sold shares of SD. Bank of New York Mellon Corp purchased a new position in shares of SandRidge Energy in the second quarter valued at $5,191,000. Segall Bryant & Hamill LLC purchased a new stake in shares of SandRidge Energy in the 1st quarter worth about $1,558,000. First Trust Advisors LP grew its stake in SandRidge Energy by 27.5% in the 1st quarter. First Trust Advisors LP now owns 419,445 shares of the oil and natural gas company’s stock valued at $6,841,000 after acquiring an additional 90,524 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in SandRidge Energy in the 3rd quarter valued at about $931,000. Finally, Alps Advisors Inc. acquired a new stake in SandRidge Energy in the 3rd quarter valued at about $541,000. Institutional investors and hedge funds own 61.84% of the company’s stock.

SandRidge Energy Company Profile

SandRidge Energy, Inc. is an independent oil and natural gas company focused on exploring for, developing and producing hydrocarbons in the Mid-Continent region of the United States. Its operations are concentrated in Oklahoma and southern Kansas. The company produces crude oil, natural gas and natural gas liquids from its properties. Its activities also include operating infrastructure that supports the handling and movement of production, including gathering and saltwater-disposal assets. Founded in 2006, SandRidge has undergone significant changes in ownership and operations, including a Chapter 11 restructuring from which it emerged in 2016.