Shares of SandRidge Energy Inc. (NYSE:SD) rose 9.5% on Tuesday following insider buying activity. The company traded as high as $7.92 and last traded at $7.86. Approximately 575,270 shares were traded during trading, an increase of 92% from the average daily volume of 300,131 shares. The stock had previously closed at $7.18.
Specifically, Director Randolph C. Read purchased 15,000 shares of SandRidge Energy stock in a transaction dated Thursday, March 7th. The shares were bought at an average cost of $7.48 per share, with a total value of $112,200.00. Following the completion of the transaction, the director now directly owns 23,762 shares in the company, valued at approximately $177,739.76. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.60% of the company’s stock.
Separately, ValuEngine lowered shares of SandRidge Energy from a “sell” rating to a “strong sell” rating in a report on Friday, February 8th.
SandRidge Energy (NYSE:SD) last issued its quarterly earnings data on Monday, March 4th. The oil and natural gas company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.31). SandRidge Energy had a positive return on equity of 3.23% and a negative net margin of 22.94%. The company had revenue of $85.15 million for the quarter.
Large investors have recently modified their holdings of the stock. Bank of Montreal Can increased its stake in shares of SandRidge Energy by 1,244.0% during the 4th quarter. Bank of Montreal Can now owns 3,817 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 3,533 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of SandRidge Energy by 219.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,967 shares of the oil and natural gas company’s stock worth $76,000 after purchasing an additional 6,851 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of SandRidge Energy during the 4th quarter worth about $82,000. Meeder Asset Management Inc. boosted its holdings in shares of SandRidge Energy by 840.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 9,534 shares of the oil and natural gas company’s stock worth $104,000 after buying an additional 8,520 shares during the period. Finally, HRT Financial LLC bought a new stake in shares of SandRidge Energy during the 4th quarter worth about $125,000. Institutional investors and hedge funds own 17.27% of the company’s stock.
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SandRidge Energy Company Profile (NYSE:SD)
SandRidge Energy, Inc engages in the exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Mid-Continent and North Park Basin of the United States. As of December 31, 2017, it had 2,096.8 net producing wells; approximately 643,000 net acres under lease; and two rigs drilling in the Mid-Continent and two rigs drilling in the North Park Basin, as well as total estimated proved reserves of 177.6 million barrels of oil equivalent.
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