Azarias Capital Management L.P. Sells 162,121 Shares of SandRidge Energy, Inc. $SD

Key Points

• Azarias Capital Management cut its SandRidge Energy stake by 50.4% in the third quarter, selling 162,121 shares and retaining 159,437 shares worth approximately $2.15 million. Institutional investors and hedge funds collectively own 61.84% of the company.
• Analysts remain cautious, with all three covering firms rating SandRidge Energy “Hold” on average. The company recently missed quarterly earnings and revenue expectations, reporting $0.57 EPS and $51.12 million in revenue.
• SandRidge shares traded at $14.01, near their 50- and 200-day moving averages, while the company maintains a $0.13 quarterly dividend, equivalent to a 3.7% yield and a 23.21% payout ratio.

Azarias Capital Management L.P. lessened its stake in SandRidge Energy, Inc. (NYSE:SD - Free Report) by 50.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 159,437 shares of the oil and natural gas company's stock after selling 162,121 shares during the period. SandRidge Energy comprises 2.0% of Azarias Capital Management L.P.'s portfolio, making the stock its 20th biggest holding. Azarias Capital Management L.P. owned approximately 0.43% of SandRidge Energy worth $2,151,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of SandRidge Energy by 37.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,627 shares of the oil and natural gas company's stock worth $35,000 after acquiring an additional 713 shares during the period. Ruggaard & Associates LLC raised its stake 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 purchasing an additional 1,884 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of SandRidge Energy in the second quarter valued at $29,000. Copeland Capital Management LLC raised its stake in shares of SandRidge Energy by 66.5% in the third quarter. Copeland Capital Management LLC now owns 6,305 shares of the oil and natural gas company's stock valued at $85,000 after purchasing an additional 2,518 shares in the last quarter. Finally, Strs Ohio bought a new position in SandRidge Energy in the first quarter worth $57,000. 61.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SD has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of SandRidge Energy from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of SandRidge Energy from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Finally, Zacks Research upgraded shares of SandRidge Energy to a "hold" rating in a research note on Monday, October 5th. Three equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of "Hold".

SandRidge Energy Price Performance

Shares of SD traded down $0.35 during trading hours on Wednesday, hitting $14.01. The stock had a trading volume of 319,931 shares, compared to its average volume of 355,859. SandRidge Energy, Inc. has a 52 week low of $11.20 and a 52 week high of $18.45. The stock has a market capitalization of $519.34 million, a price-to-earnings ratio of 6.25 and a beta of 0.71. The company's fifty day moving average is $14.09 and its two-hundred day moving average is $14.43.

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 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.18). The firm had revenue of $51.12 million for the quarter, compared to the consensus estimate of $59.00 million. SandRidge Energy had a return on equity of 13.62% and a net margin of 46.06%. Equities analysts predict that SandRidge Energy, Inc. will post 2.13 EPS for the current fiscal year.

SandRidge Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, August 19th. SandRidge Energy's payout ratio is presently 23.21%.

About SandRidge Energy

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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