SandRidge Energy (NYSE:SD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded SandRidge Energy from “hold” to “buy,” while the broader analyst consensus remains “hold,” with three analysts rating the stock Hold.
• In its latest quarter, SandRidge reported earnings per share of $0.64, beating the $0.51 consensus estimate, and revenue of $54.42 million versus expectations of $49.00 million.
• The stock opened at $12.51, near its 52-week low of $12.45; the company had a market capitalization of about $463.9 million.

SandRidge Energy (NYSE:SD - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other analysts have also issued reports about the stock. Zacks Research upgraded shares of SandRidge Energy to a "hold" rating in a research note on Monday, October 5th. Weiss Ratings upgraded shares of SandRidge Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Three research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

SandRidge Energy Stock Performance

NYSE:SD opened at $12.51 on Friday. SandRidge Energy has a one year low of $12.45 and a one year high of $18.45. The firm has a market cap of $463.87 million, a price-to-earnings ratio of 4.76 and a beta of 0.74. The firm's fifty day moving average is $14.06 and its two-hundred day moving average is $14.89.

SandRidge Energy (NYSE:SD - Get Free Report) last released its quarterly earnings data 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. SandRidge Energy had a net margin of 46.06% and a return on equity of 13.62%. The business had revenue of $54.42 million for the quarter, compared to analysts' expectations of $49.00 million. As a group, equities research analysts predict that SandRidge Energy will post 2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On SandRidge Energy

A number of institutional investors and hedge funds have recently made changes to their positions in SD. GAMMA Investing LLC boosted its holdings in SandRidge Energy by 37.3% in the third quarter. GAMMA Investing LLC now owns 2,627 shares of the oil and natural gas company's stock valued at $35,000 after acquiring an additional 713 shares during the last quarter. Lakewood Asset Management LLC grew its holdings in SandRidge Energy by 5.1% in the third quarter. Lakewood Asset Management LLC now owns 29,424 shares of the oil and natural gas company's stock worth $397,000 after purchasing an additional 1,426 shares during the last quarter. Ruggaard & Associates LLC lifted its position in shares of SandRidge Energy by 17.7% in the first quarter. Ruggaard & Associates LLC now owns 12,551 shares of the oil and natural gas company's stock valued at $205,000 after acquiring an additional 1,884 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of SandRidge Energy during the second quarter worth $29,000. Finally, Copeland Capital Management LLC raised its stake in shares of SandRidge Energy by 66.5% during the 3rd quarter. Copeland Capital Management LLC now owns 6,305 shares of the oil and natural gas company's stock worth $85,000 after buying an additional 2,518 shares during the last quarter. Institutional investors own 61.84% of the company's stock.

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 focuses on acquiring, developing and operating oil and gas properties in the Mid-Continent region of the United States.

SandRidge's operations have historically centered on the Mississippian Lime formation, which extends across northern Oklahoma and southern Kansas. Its production portfolio includes crude oil, natural gas and natural gas liquids, supported by operated drilling, production and field-development activities.

Founded in 2006 by Tom Ward, SandRidge Energy became a publicly traded company and later completed a financial restructuring under Chapter 11 bankruptcy protection in 2016.

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