Short Interest in SandRidge Energy, Inc. (NYSE:SD) Declines By 21.5%

Key Points

• Short interest fell 21.5% to 1,281,979 shares as of March 13, leaving a days-to-cover of 2.8 and about 3.5% of the float shorted.
• SandRidge missed expectations with quarterly EPS of $0.34 versus $0.37 and revenue of $39.4M versus $43.7M, and announced a $0.12 quarterly dividend (2.8% yield; ex-dividend March 20).
• Analyst sentiment is mixed—some firms upgraded or downgraded the stock, leaving the consensus rating at Hold.

SandRidge Energy, Inc. (NYSE:SD - Get Free Report) was the target of a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 1,281,979 shares, a decrease of 21.5% from the February 26th total of 1,632,372 shares. Based on an average daily volume of 462,886 shares, the days-to-cover ratio is currently 2.8 days. Approximately 3.5% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of SandRidge Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, March 6th. Freedom Capital lowered SandRidge Energy from a "strong-buy" rating to a "strong sell" rating in a research note on Tuesday, March 10th. Finally, Wall Street Zen downgraded shares of SandRidge Energy from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

SandRidge Energy Stock Performance

SD stock opened at $17.13 on Friday. The company has a market capitalization of $631.05 million, a P/E ratio of 9.02 and a beta of 0.55. The company has a fifty day moving average price of $16.61 and a 200-day moving average price of $14.32. SandRidge Energy has a 52-week low of $8.81 and a 52-week high of $18.45.

SandRidge Energy (NYSE:SD - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The oil and natural gas company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $39.40 million during 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%.

SandRidge Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 20th will be issued a $0.12 dividend. The ex-dividend date is Friday, March 20th. This represents a $0.48 annualized dividend and a yield of 2.8%. SandRidge Energy's payout ratio is presently 25.26%.

Institutional Trading of SandRidge Energy

Large investors have recently bought and sold shares of the business. Federation des caisses Desjardins du Quebec lifted its stake in shares of SandRidge Energy by 0.9% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 98,080 shares of the oil and natural gas company's stock valued at $1,415,000 after purchasing an additional 900 shares during the period. Invesco Ltd. grew its stake in SandRidge Energy by 1.5% during the second quarter. Invesco Ltd. now owns 59,816 shares of the oil and natural gas company's stock worth $647,000 after purchasing an additional 907 shares during the period. Sanctuary Advisors LLC increased its holdings in SandRidge Energy by 9.1% in the fourth quarter. Sanctuary Advisors LLC now owns 11,867 shares of the oil and natural gas company's stock worth $171,000 after purchasing an additional 994 shares in the last quarter. NewEdge Advisors LLC increased its holdings in SandRidge Energy by 11.1% in the third quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company's stock worth $113,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in SandRidge Energy by 4.8% in the fourth quarter. Russell Investments Group Ltd. now owns 26,003 shares of the oil and natural gas company's stock valued at $375,000 after buying an additional 1,199 shares during the period. 61.84% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.