SandRidge Energy (NYSE:SD) Issues Quarterly Earnings Results

SandRidge Energy (NYSE:SD) issued its earnings results on Wednesday. The oil and natural gas company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.18), Zacks reports. SandRidge Energy had a return on equity of 12.31% and a net margin of 46.37%.

SandRidge Energy Stock Down 2.4%

SandRidge Energy stock traded down $0.32 during mid-day trading on Wednesday, hitting $13.23. 373,108 shares of the company’s stock were exchanged, compared to its average volume of 269,533. The company’s 50 day simple moving average is $14.00 and its 200-day simple moving average is $15.28. The firm has a market capitalization of $488.49 million, a P/E ratio of 6.45 and a beta of 0.55. SandRidge Energy has a fifty-two week low of $10.10 and a fifty-two week high of $18.45.

Institutional Investors Weigh In On SandRidge Energy

Several large investors have recently modified their holdings of SD. Tower Research Capital LLC TRC lifted its holdings in shares of SandRidge Energy by 92.8% during 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 purchasing an additional 1,854 shares in the last quarter. NewEdge Advisors LLC raised its holdings in SandRidge Energy by 11.1% during the 3rd quarter. NewEdge Advisors LLC now owns 10,000 shares of the oil and natural gas company’s stock worth $113,000 after buying an additional 1,000 shares during the period. Quadrant Capital Group LLC bought a new position in SandRidge Energy in the third quarter valued at approximately $123,000. The Manufacturers Life Insurance Company boosted its holdings in shares of SandRidge Energy by 23.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,995 shares of the oil and natural gas company’s stock valued at $151,000 after buying an additional 2,688 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in shares of SandRidge Energy by 18.7% in the third quarter. Intech Investment Management LLC now owns 15,210 shares of the oil and natural gas company’s stock valued at $172,000 after buying an additional 2,393 shares during the period. 61.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on SD shares. Wall Street Zen cut SandRidge Energy from a “buy” rating to a “hold” rating in a research note on Saturday. Freedom Capital raised shares of SandRidge Energy from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings cut shares of SandRidge Energy from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, SandRidge Energy presently has an average rating of “Hold”.

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.