SandRidge Energy (NYSE:SD) Director Purchases $274,000.00 in Stock

Key Points

• Director Vincent Intrieri purchased 25,000 shares of SandRidge Energy stock at $10.96 each, increasing his ownership position by 113.76%.
• SandRidge Energy announced a dividend increase to $0.12 per share, scheduled for payment on September 29, reflecting a 4.5% yield.
• The company reported quarterly earnings of $0.33 per share, exceeding expectations and indicating strong profitability with a net margin of 51.77%.

SandRidge Energy, Inc. (NYSE:SD - Get Free Report) Director Vincent J. Intrieri purchased 25,000 shares of the business's stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $10.96 per share, with a total value of $274,000.00. Following the purchase, the director owned 46,976 shares of the company's stock, valued at approximately $514,856.96. This trade represents a 113.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

SandRidge Energy Stock Performance

NYSE SD traded up $0.2530 during trading on Friday, reaching $11.7730. 321,996 shares of the company traded hands, compared to its average volume of 325,006. SandRidge Energy, Inc. has a 1-year low of $8.81 and a 1-year high of $13.72. The company has a market cap of $432.66 million, a price-to-earnings ratio of 5.77 and a beta of 0.95. The stock's 50 day moving average price is $10.86 and its two-hundred day moving average price is $10.71.

SandRidge Energy (NYSE:SD - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and natural gas company reported $0.33 EPS for the quarter, topping the consensus estimate 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 company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, September 22nd. This is a positive change from SandRidge Energy's previous quarterly dividend of $0.11. SandRidge Energy's payout ratio is currently 21.57%.

Hedge Funds Weigh In On SandRidge Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SD. First Wilshire Securities Management Inc. grew its stake in SandRidge Energy by 7.3% during the second quarter. First Wilshire Securities Management Inc. now owns 1,238,581 shares of the oil and natural gas company's stock worth $13,401,000 after buying an additional 83,959 shares during the last quarter. Royce & Associates LP grew its holdings in shares of SandRidge Energy by 8.6% during the first quarter. Royce & Associates LP now owns 1,188,526 shares of the oil and natural gas company's stock worth $13,573,000 after purchasing an additional 93,740 shares during the last quarter. American Century Companies Inc. increased its stake in shares of SandRidge Energy by 7.0% in the second quarter. American Century Companies Inc. now owns 1,107,341 shares of the oil and natural gas company's stock valued at $11,981,000 after buying an additional 72,537 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of SandRidge Energy by 8.1% in the second quarter. Geode Capital Management LLC now owns 823,191 shares of the oil and natural gas company's stock valued at $8,909,000 after buying an additional 61,586 shares during the last quarter. Finally, First Trust Advisors LP increased its position in SandRidge Energy by 18.3% in the 4th quarter. First Trust Advisors LP now owns 384,664 shares of the oil and natural gas company's stock valued at $4,504,000 after acquiring an additional 59,618 shares in the last quarter. 61.84% of the stock is currently owned by institutional investors and hedge funds.

SandRidge Energy Company Profile

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.