SandRidge Energy, Inc. $SD Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in SandRidge Energy, Inc. by 22% during the first quarter, leaving it with approximately 135,405 shares valued at $1.5 million.
• SandRidge announced a quarterly dividend increase to $0.12 per share, which will be paid on September 29th, boosting its annualized yield to 4.3%.
• Various institutional investors have adjusted their stakes in SandRidge, with Point72 Asset Management and GAMMA Investing LLC among those making significant moves recently.

Goldman Sachs Group Inc. reduced its stake in shares of SandRidge Energy, Inc. (NYSE:SD - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,405 shares of the oil and natural gas company's stock after selling 38,149 shares during the quarter. Goldman Sachs Group Inc. owned 0.37% of SandRidge Energy worth $1,546,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Rhumbline Advisers raised its position in SandRidge Energy by 1.9% during the first quarter. Rhumbline Advisers now owns 77,536 shares of the oil and natural gas company's stock valued at $885,000 after acquiring an additional 1,421 shares in the last quarter. SCS Capital Management LLC purchased a new stake in shares of SandRidge Energy in the first quarter valued at approximately $114,000. Empowered Funds LLC increased its position in shares of SandRidge Energy by 1.8% in the first quarter. Empowered Funds LLC now owns 139,197 shares of the oil and natural gas company's stock valued at $1,590,000 after buying an additional 2,518 shares in the last quarter. Caxton Associates LLP purchased a new stake in shares of SandRidge Energy in the first quarter valued at approximately $390,000. Finally, Bridgeway Capital Management LLC increased its position in shares of SandRidge Energy by 1.1% in the first quarter. Bridgeway Capital Management LLC now owns 239,747 shares of the oil and natural gas company's stock valued at $2,738,000 after buying an additional 2,518 shares in the last quarter. 61.84% of the stock is currently owned by hedge funds and other institutional investors.

SandRidge Energy Stock Up 4.3%

Shares of SandRidge Energy stock traded up $0.49 on Tuesday, reaching $11.68. The company's stock had a trading volume of 69,690 shares, compared to its average volume of 311,566. The company has a market capitalization of $429.09 million, a P/E ratio of 5.74 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 stock has a 50-day moving average price of $11.03 and a 200-day moving average price of $10.67.

SandRidge Energy (NYSE:SD - Get Free Report) last posted 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 analysts' expectations 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.1%. This is a boost from SandRidge Energy's previous quarterly dividend of $0.11. The ex-dividend date is Monday, September 22nd. SandRidge Energy's dividend payout ratio (DPR) is presently 21.57%.

Insider Activity at SandRidge Energy

In other SandRidge Energy news, Director Vincent J. Intrieri acquired 25,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of $10.96 per share, for a total transaction of $274,000.00. Following the completion of the transaction, the director directly owned 46,976 shares of the company's stock, valued at $514,856.96. This represents a 113.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by company 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.