Insider Buying: SandRidge Energy (NYSE:SD) Director Purchases 25,000 Shares of 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 stock was acquired at an average cost of $10.96 per share, with a total value of $274,000.00. Following the completion of the acquisition, the director directly owned 46,976 shares in the company, valued at $514,856.96. The trade was a 113.76% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SandRidge Energy Price Performance

NYSE SD traded up $0.2720 on Friday, hitting $11.7920. 173,331 shares of the company were exchanged, compared to its average volume of 319,268. The company's 50 day moving average price is $10.86 and its 200-day moving average price is $10.72. The firm has a market capitalization of $433.36 million, a P/E ratio of 5.79 and a beta of 0.95. SandRidge Energy, Inc. has a twelve month low of $8.81 and a twelve month high of $13.72.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.04. The firm had revenue of $34.53 million for 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 firm 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. The ex-dividend date is Monday, September 22nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.1%. This is a positive change from SandRidge Energy's previous quarterly dividend of $0.11. SandRidge Energy's dividend payout ratio is currently 21.57%.

Hedge Funds Weigh In On SandRidge Energy

Large investors have recently made changes to their positions in the business. Signaturefd LLC increased its holdings in shares of SandRidge Energy by 229.3% in the 2nd quarter. Signaturefd LLC now owns 3,056 shares of the oil and natural gas company's stock valued at $33,000 after purchasing an additional 2,128 shares during the period. Quarry LP acquired a new position in shares of SandRidge Energy in the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. grew its stake in shares of SandRidge Energy by 2,011.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,632 shares of the oil and natural gas company's stock valued at $39,000 after buying an additional 3,460 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of SandRidge Energy by 92.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,852 shares of the oil and natural gas company's stock valued at $42,000 after buying an additional 1,854 shares in the last quarter. Finally, CWM LLC grew its stake in shares of SandRidge Energy by 2,109.1% in the 2nd quarter. CWM LLC now owns 4,860 shares of the oil and natural gas company's stock valued at $53,000 after buying an additional 4,640 shares in the last quarter. Institutional investors and hedge funds own 61.84% of the company's stock.

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.