Bank of New York Mellon Corp increased its position in SandRidge Energy, Inc. (NYSE:SD) by 17.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,238 shares of the oil and natural gas company’s stock after buying an additional 2,588 shares during the period. Bank of New York Mellon Corp owned about 0.09% of SandRidge Energy worth $319,000 as of its most recent SEC filing.
Separately, UBS Asset Management Americas Inc. bought a new stake in SandRidge Energy during the fourth quarter worth approximately $326,000. 20.88% of the stock is owned by institutional investors and hedge funds.
Shares of SandRidge Energy, Inc. (SD) opened at 18.06 on Tuesday. The stock has a market cap of $646.49 million and a P/E ratio of 1.80. SandRidge Energy, Inc. has a one year low of $15.03 and a one year high of $26.85. The firm has a 50 day moving average of $18.13 and a 200 day moving average of $18.97.
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A number of analysts recently commented on SD shares. Mizuho started coverage on shares of SandRidge Energy in a report on Tuesday, April 25th. They set a “buy” rating and a $25.00 price objective on the stock. Zacks Investment Research downgraded shares of SandRidge Energy from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 26th. Finally, Seaport Global Securities downgraded shares of SandRidge Energy from a “buy” rating to a “neutral” rating and set a $17.00 price target on the stock. in a report on Wednesday, June 21st.
About SandRidge Energy
SandRidge Energy, Inc is an oil and natural gas company. The Company is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. It operates through two segments: exploration and production, which is engaged in the exploration and production of oil and natural gas properties and includes its proportionate share of the activities of the SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust (the Royalty Trusts), and midstream services, which coordinates the delivery of electricity to its exploration and production operations in the Mid-Continent.
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