Pinnacle Associates Ltd. Acquires 68,988 Shares of SandRidge Energy, Inc. $SD

Key Points

• Pinnacle Associates acquired 68,988 SandRidge Energy shares in the third quarter, valued at approximately $931,000, giving it a 0.19% stake. Institutional investors collectively own 61.84% of the company.
• SandRidge Energy shares opened at $14.76, with a 52-week range of $11.41 to $18.45 and a market capitalization of approximately $547 million.
• The company reported quarterly earnings of $0.57 per share, below the $0.75 analyst consensus, but declared a quarterly dividend of $0.13, representing a 3.5% annualized yield. Analysts maintain a consensus “Hold” rating.

Pinnacle Associates Ltd. bought a new position in SandRidge Energy, Inc. (NYSE:SD - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 68,988 shares of the oil and natural gas company's stock, valued at approximately $931,000. Pinnacle Associates Ltd. owned 0.19% of SandRidge Energy at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in SandRidge Energy by 37.3% in the third quarter. GAMMA Investing LLC now owns 2,627 shares of the oil and natural gas company's stock worth $35,000 after buying an additional 713 shares in the last quarter. Ruggaard & Associates LLC boosted its position in SandRidge Energy by 17.7% during the 1st quarter. Ruggaard & Associates LLC now owns 12,551 shares of the oil and natural gas company's stock valued at $205,000 after acquiring an additional 1,884 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of SandRidge Energy during the 2nd quarter worth approximately $29,000. Copeland Capital Management LLC grew its holdings in shares of SandRidge Energy by 66.5% during the 3rd quarter. Copeland Capital Management LLC now owns 6,305 shares of the oil and natural gas company's stock worth $85,000 after acquiring an additional 2,518 shares during the period. Finally, Strs Ohio purchased a new position in shares of SandRidge Energy during the 1st quarter worth approximately $57,000. Institutional investors own 61.84% of the company's stock.

SandRidge Energy Price Performance

Shares of NYSE SD opened at $14.76 on Friday. SandRidge Energy, Inc. has a 1 year low of $11.41 and a 1 year high of $18.45. The stock has a market cap of $547.15 million, a P/E ratio of 6.59 and a beta of 0.71. The firm has a 50-day moving average of $14.15 and a 200 day moving average of $14.34.

SandRidge Energy (NYSE:SD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The oil and natural gas company reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.18). SandRidge Energy had a return on equity of 13.62% and a net margin of 46.06%. The business had revenue of $51.12 million during the quarter, compared to analysts' expectations of $59.00 million. Research analysts expect that SandRidge Energy, Inc. will post 2.13 earnings per share for the current fiscal year.

SandRidge Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Wednesday, August 19th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Wednesday, August 19th. SandRidge Energy's payout ratio is currently 23.21%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SD shares. Weiss Ratings raised SandRidge Energy from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Wall Street Zen lowered SandRidge Energy from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Zacks Research raised 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. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

About SandRidge Energy

SandRidge Energy, Inc is an independent oil and natural gas exploration and production company headquartered in Oklahoma City, Oklahoma. The company focuses on acquiring, developing and operating oil and gas properties in the Mid-Continent region of the United States.

SandRidge's operations have historically centered on the Mississippian Lime formation, which extends across northern Oklahoma and southern Kansas. Its production portfolio includes crude oil, natural gas and natural gas liquids, supported by operated drilling, production and field-development activities.

Founded in 2006 by Tom Ward, SandRidge Energy became a publicly traded company and later completed a financial restructuring under Chapter 11 bankruptcy protection in 2016.

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