SandRidge Energy, Inc. $SD Shares Sold by Cubist Systematic Strategies LLC

Key Points

• Cubist Systematic Strategies LLC sold 44,838 shares of SandRidge Energy, reducing its stake by 65.4% to approximately 23,681 shares, valued at around $270,000 as of the latest SEC filing.
• The company recently announced an increase in its quarterly dividend from $0.11 to $0.12, representing an annualized yield of 4.2%, with the dividend payout ratio currently at 21.57%.
• SandRidge Energy reported $0.33 EPS for the last quarter, exceeding analysts' expectations, alongside revenue of $34.53 million, which was below forecasts.

Cubist Systematic Strategies LLC decreased its holdings in shares of SandRidge Energy, Inc. (NYSE:SD - Free Report) by 65.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,681 shares of the oil and natural gas company's stock after selling 44,838 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.06% of SandRidge Energy worth $270,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Nuveen LLC purchased a new position in SandRidge Energy during the first quarter worth about $2,932,000. Nuveen Asset Management LLC increased its holdings in SandRidge Energy by 281.7% in the fourth quarter. Nuveen Asset Management LLC now owns 304,067 shares of the oil and natural gas company's stock valued at $3,561,000 after buying an additional 224,410 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in SandRidge Energy in the fourth quarter valued at about $1,248,000. Royce & Associates LP increased its holdings in SandRidge Energy by 8.6% in the first quarter. Royce & Associates LP now owns 1,188,526 shares of the oil and natural gas company's stock valued at $13,573,000 after buying an additional 93,740 shares in the last quarter. Finally, Man Group plc increased its stake in shares of SandRidge Energy by 88.9% during the 4th quarter. Man Group plc now owns 193,711 shares of the oil and natural gas company's stock worth $2,268,000 after purchasing an additional 91,183 shares in the last quarter. Institutional investors and hedge funds own 61.84% of the company's stock.

SandRidge Energy Stock Up 1.1%

Shares of SD traded up $0.13 during mid-day trading on Monday, reaching $11.55. 218,481 shares of the company's stock were exchanged, compared to its average volume of 311,325. The company has a market cap of $424.46 million, a price-to-earnings ratio of 5.66 and a beta of 0.90. SandRidge Energy, Inc. has a 52-week low of $8.81 and a 52-week high of $13.19. The company has a 50-day simple moving average of $10.96 and a two-hundred day simple moving average of $10.66.

SandRidge Energy (NYSE:SD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The oil and natural gas company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. The business had revenue of $34.53 million during the quarter, compared to the consensus estimate of $37.30 million. SandRidge Energy had a return on equity of 10.05% and a net margin of 51.77%.

SandRidge Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $0.48 annualized dividend and a dividend yield of 4.2%. This is a boost from SandRidge Energy's previous quarterly dividend of $0.11. SandRidge Energy's dividend payout ratio is presently 21.57%.

Insider Activity

In related news, Director Vincent J. Intrieri acquired 25,000 shares of the stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $10.96 per share, with a total value of $274,000.00. Following the purchase, the director directly owned 46,976 shares of the company's stock, valued at approximately $514,856.96. This represents a 113.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by corporate insiders.

About SandRidge Energy

SandRidge Energy, Inc engages in the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States Mid-Continent. The company was incorporated in 2006 and is headquartered in Oklahoma City, Oklahoma.