Bank of New York Mellon Corp Buys New Position in SandRidge Energy, Inc. $SD

Bank of New York Mellon Corp purchased a new position in SandRidge Energy, Inc. (NYSE:SD - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 378,889 shares of the oil and natural gas company's stock, valued at approximately $5,191,000. Bank of New York Mellon Corp owned about 1.03% of SandRidge Energy as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SD. Denali Advisors LLC increased its position in SandRidge Energy by 21.2% in the 4th quarter. Denali Advisors LLC now owns 405,993 shares of the oil and natural gas company's stock worth $5,858,000 after purchasing an additional 71,093 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of 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 worth $6,841,000 after buying an additional 90,524 shares in the last quarter. LSV Asset Management grew its holdings in shares of SandRidge Energy by 126.9% in the 4th quarter. LSV Asset Management now owns 182,868 shares of the oil and natural gas company's stock worth $2,639,000 after purchasing an additional 102,268 shares during the last quarter. UBS Group AG boosted its holdings in shares of SandRidge Energy by 92.3% in the 4th quarter. UBS Group AG now owns 148,696 shares of the oil and natural gas company's stock worth $2,146,000 after acquiring an additional 71,357 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in SandRidge Energy in the 1st quarter valued at about $1,558,000. 61.84% of the stock is currently owned by hedge funds and other institutional investors.

SandRidge Energy Stock Performance

Shares of NYSE:SD opened at $14.31 on Friday. The company's 50-day moving average is $13.82 and its 200 day moving average is $15.01. SandRidge Energy, Inc. has a fifty-two week low of $11.10 and a fifty-two week high of $18.45. The company has a market capitalization of $530.61 million, a P/E ratio of 6.39 and a beta of 0.48.

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

SandRidge Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.52 annualized dividend and a dividend yield of 3.6%. SandRidge Energy's dividend payout ratio (DPR) is 23.21%.

Wall Street Analyst Weigh In

SD has been the topic of several analyst reports. Freedom Capital upgraded shares of SandRidge Energy from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 19th. Weiss Ratings cut SandRidge Energy from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 16th. Finally, Wall Street Zen cut SandRidge Energy from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, SandRidge Energy currently has a consensus rating of "Hold".

SandRidge Energy Profile

SandRidge Energy, Inc NYSE: SD is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge's asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency.

Founded in 2006 by industry veteran Tom L.

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