Nuveen LLC Takes Position in SandRidge Energy, Inc. $SD

Key Points

• Nuveen LLC has acquired a new stake in SandRidge Energy, purchasing 256,706 shares valued at approximately $2.93 million, which represents about 0.70% of the company.
• SandRidge Energy plans to increase its quarterly dividend to $0.12 per share, which reflects a 4.0% yield, up from the previous $0.11 dividend.
• The company's recent earnings report indicated an EPS of $0.33, exceeding analysts' expectations, although revenue was lower than anticipated at $34.53 million.

Nuveen LLC acquired a new position in shares of SandRidge Energy, Inc. (NYSE:SD - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 256,706 shares of the oil and natural gas company's stock, valued at approximately $2,932,000. Nuveen LLC owned about 0.70% of SandRidge Energy at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. D. E. Shaw & Co. Inc. acquired a new stake in shares of SandRidge Energy during the 4th quarter worth about $1,248,000. Millennium Management LLC increased its position in shares of SandRidge Energy by 90.7% during the 4th quarter. Millennium Management LLC now owns 171,442 shares of the oil and natural gas company's stock worth $2,008,000 after purchasing an additional 81,560 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of SandRidge Energy by 281.7% during the 4th quarter. Nuveen Asset Management LLC now owns 304,067 shares of the oil and natural gas company's stock worth $3,561,000 after purchasing an additional 224,410 shares during the last quarter. Rhumbline Advisers increased its position in shares of SandRidge Energy by 1.9% during the 1st quarter. Rhumbline Advisers now owns 77,536 shares of the oil and natural gas company's stock worth $885,000 after purchasing an additional 1,421 shares during the last quarter. Finally, Azarias Capital Management L.P. acquired a new stake in shares of SandRidge Energy during the 1st quarter worth about $816,000. 61.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Vincent J. Intrieri bought 25,000 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average cost of $10.96 per share, for a total transaction of $274,000.00. Following the acquisition, the director directly owned 46,976 shares of the company's stock, valued at $514,856.96. The trade was a 113.76% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

SandRidge Energy Price Performance

Shares of NYSE:SD traded down $0.45 during midday trading on Wednesday, reaching $11.65. 256,642 shares of the company's stock were exchanged, compared to its average volume of 298,194. The firm's 50 day simple moving average is $10.88 and its two-hundred day simple moving average is $10.71. The stock has a market cap of $428.14 million, a price-to-earnings ratio of 5.71 and a beta of 0.90. SandRidge Energy, Inc. has a fifty-two week low of $8.81 and a fifty-two week high of $13.19.

SandRidge Energy (NYSE:SD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and natural gas company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The firm 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 22nd will be issued a dividend of $0.12 per share. This is a positive change from SandRidge Energy's previous quarterly dividend of $0.11. The ex-dividend date is Monday, September 22nd. This represents a $0.48 dividend on an annualized basis and a yield of 4.1%. SandRidge Energy's dividend payout ratio (DPR) is 21.57%.

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.