SandRidge Energy (NYSE:SD) Sets New 12-Month High – Here’s Why

SandRidge Energy, Inc. (NYSE:SD)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $13.80 and last traded at $13.7510, with a volume of 188715 shares changing hands. The stock had previously closed at $13.27.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of SandRidge Energy in a research report on Tuesday. Wall Street Zen upgraded shares of SandRidge Energy from a “hold” rating to a “buy” rating in a report on Saturday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

SandRidge Energy Trading Up 3.5%

The stock’s 50-day moving average is $11.73 and its 200-day moving average is $11.02. The stock has a market cap of $504.57 million, a price-to-earnings ratio of 6.73 and a beta of 0.91.

SandRidge Energy (NYSE:SD) last released its quarterly earnings data on Wednesday, November 5th. The oil and natural gas company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.10. SandRidge Energy had a net margin of 51.77% and a return on equity of 10.05%. The company had revenue of $39.82 million during the quarter, compared to the consensus estimate of $38.80 million.

SandRidge Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $0.48 annualized dividend and a dividend yield of 3.5%. SandRidge Energy’s dividend payout ratio is presently 26.97%.

Insider Transactions at SandRidge Energy

In other news, Director Vincent J. Intrieri acquired 25,000 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were bought at an average price of $10.96 per share, for a total transaction of $274,000.00. Following the completion of the purchase, the director directly owned 46,976 shares of the company’s stock, valued at approximately $514,856.96. This trade represents a 113.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its stake in SandRidge Energy by 229.3% during the 2nd quarter. Signaturefd LLC now owns 3,056 shares of the oil and natural gas company’s stock valued at $33,000 after purchasing an additional 2,128 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of SandRidge Energy by 2,011.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,632 shares of the oil and natural gas company’s stock valued at $39,000 after buying an additional 3,460 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake 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 buying an additional 1,854 shares during the last quarter. CWM LLC grew its position in shares of SandRidge Energy by 2,109.1% during the second quarter. CWM LLC now owns 4,860 shares of the oil and natural gas company’s stock worth $53,000 after buying an additional 4,640 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of SandRidge Energy by 344.3% in the second quarter. Parallel Advisors LLC now owns 8,366 shares of the oil and natural gas company’s stock worth $91,000 after buying an additional 6,483 shares during the last quarter. Institutional investors and hedge funds own 61.84% of the company’s stock.

About SandRidge Energy

SandRidge Energy, Inc engages in the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States Mid-Continent. The company was incorporated in 2006 and is headquartered in Oklahoma City, Oklahoma.