SandRidge Energy (NYSE:SD) Downgraded by Freedom Capital to "Strong Sell"

Key Points

• Freedom Capital downgraded SandRidge Energy from a "strong-buy" to a "strong sell", while other analysts are split and the MarketBeat consensus rating remains a "Hold".
• The company missed quarterly estimates, reporting EPS of $0.34 versus $0.37 expected and revenue of $39.4M versus $43.7M, indicating weaker-than-expected results.
• Shares opened at $16.84 (down 2.9%), the stock has a market cap of about $620M and a PE of 8.86, and institutional investors/hedge funds own roughly 61.84% of the company.

SandRidge Energy (NYSE:SD - Get Free Report) was downgraded by equities researchers at Freedom Capital from a "strong-buy" rating to a "strong sell" rating in a note issued to investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Weiss Ratings raised shares of SandRidge Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Wall Street Zen cut shares of SandRidge Energy from a "buy" rating to a "hold" rating in a research note on Saturday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".

SandRidge Energy Stock Down 2.9%

SD opened at $16.84 on Tuesday. The business's fifty day simple moving average is $15.95 and its 200 day simple moving average is $13.88. SandRidge Energy has a 52 week low of $8.81 and a 52 week high of $18.45. The stock has a market cap of $620.18 million, a PE ratio of 8.86 and a beta of 0.55.

SandRidge Energy (NYSE:SD - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The oil and natural gas company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.03). The firm had revenue of $39.40 million for the quarter, compared to the consensus estimate of $43.70 million. SandRidge Energy had a return on equity of 11.24% and a net margin of 44.90%.

Hedge Funds Weigh In On SandRidge Energy

A number of hedge funds have recently modified their holdings of the company. Ruggaard & Associates LLC bought a new position in shares of SandRidge Energy during the fourth quarter valued at about $154,000. Invesco Ltd. increased its holdings in SandRidge Energy by 14.5% during the 4th quarter. Invesco Ltd. now owns 93,128 shares of the oil and natural gas company's stock valued at $1,344,000 after purchasing an additional 11,777 shares during the period. Mercer Global Advisors Inc. ADV raised its position in SandRidge Energy by 18.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,646 shares of the oil and natural gas company's stock valued at $312,000 after purchasing an additional 3,370 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in SandRidge Energy by 50.0% in the 4th quarter. NewEdge Advisors LLC now owns 15,000 shares of the oil and natural gas company's stock worth $216,000 after buying an additional 5,000 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of SandRidge Energy in the 4th quarter worth approximately $345,000. Hedge funds and other institutional investors own 61.84% of the company's stock.

SandRidge Energy Company Profile

SandRidge Energy, Inc NYSE: SD is an independent exploration and production company focused on the development of onshore oil and natural gas resources in the United States. The company concentrates its operations primarily in the Anadarko Basin, applying horizontal drilling and multi-stage hydraulic fracturing techniques to exploit unconventional reservoirs. SandRidge's asset portfolio includes both crude oil and natural gas liquids, complemented by associated gas production, with infrastructure investments designed to optimize midstream availability and enhance capital efficiency.

Founded in 2006 by industry veteran Tom L.

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