SandRidge Energy (NYSE:SD) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded SandRidge Energy to “Hold,” matching the average rating from MarketBeat, where three analysts currently rate the stock Hold. Other firms have also recently downgraded or lowered their ratings.
• SandRidge shares opened at $13.78, compared with a 52-week range of $11.20 to $18.45. The company has a $510.78 million market capitalization and trades at a P/E ratio of 6.15.
• The company’s latest quarterly results fell short of expectations, with EPS of $0.57 versus a $0.75 consensus estimate and revenue of $51.12 million versus $59 million expected. Institutional investors own approximately 61.84% of the stock.

SandRidge Energy (NYSE:SD - Get Free Report) was upgraded by equities research analysts at Zacks Research to a "hold" rating in a research note issued on Monday, Zacks reports.

A number of other research analysts have also recently commented on SD. Weiss Ratings cut SandRidge Energy from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, July 16th. Wall Street Zen downgraded SandRidge Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

SandRidge Energy Price Performance

Shares of NYSE SD opened at $13.78 on Monday. SandRidge Energy has a 1 year low of $11.20 and a 1 year high of $18.45. The company's 50-day moving average is $14.06 and its 200 day moving average is $14.53. The stock has a market capitalization of $510.78 million, a P/E ratio of 6.15 and a beta of 0.71.

SandRidge Energy (NYSE:SD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The oil and natural gas company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.18). The company had revenue of $51.12 million during the quarter, compared to analysts' expectations of $59.00 million. SandRidge Energy had a return on equity of 13.62% and a net margin of 46.06%. Research analysts anticipate that SandRidge Energy will post 2.13 earnings per share for the current year.

Institutional Investors Weigh In On SandRidge Energy

Hedge funds have recently added to or reduced their stakes in the stock. First Wilshire Securities Management Inc. raised its position in shares of SandRidge Energy by 0.5% in the 1st quarter. First Wilshire Securities Management Inc. now owns 1,407,863 shares of the oil and natural gas company's stock worth $22,962,000 after purchasing an additional 6,886 shares during the last quarter. First Trust Advisors LP grew its position in SandRidge Energy by 27.5% during 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 purchasing an additional 90,524 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in SandRidge Energy during the 2nd quarter valued at about $5,191,000. Empowered Funds LLC increased its stake in SandRidge Energy by 10.1% during the 1st quarter. Empowered Funds LLC now owns 136,824 shares of the oil and natural gas company's stock valued at $2,232,000 after purchasing an additional 12,560 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in SandRidge Energy in the first quarter worth about $1,558,000. 61.84% of the stock is owned by institutional investors.

SandRidge Energy Company Profile

SandRidge Energy, Inc is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company acquires, develops and operates oil and gas properties, with production that includes crude oil, natural gas and natural gas liquids.

SandRidge's operations are concentrated in the Mid-Continent region of the United States, particularly in Oklahoma and Kansas. Its activities include drilling, completing and operating wells, as well as managing the associated gathering and production infrastructure used to bring hydrocarbons to market.

Founded in 2006, SandRidge Energy has undergone significant changes in its corporate and asset structure over time.

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