SandRidge Energy (SD) Sees Unusually-High Trading Volume

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Shares of SandRidge Energy Inc. (NYSE:SD) saw an uptick in trading volume on Friday . 1,364,700 shares changed hands during trading, an increase of 231% from the previous session’s volume of 412,293 shares.The stock last traded at $15.61 and had previously closed at $15.36.

Separately, Zacks Investment Research raised shares of SandRidge Energy from a “sell” rating to a “hold” rating in a report on Wednesday, June 6th.

The company has a market cap of $544.52 million, a P/E ratio of 9.70 and a beta of 0.83.

SandRidge Energy (NYSE:SD) last issued its quarterly earnings data on Monday, May 7th. The oil and natural gas company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.20. The business had revenue of $87.13 million during the quarter, compared to the consensus estimate of $86.70 million. SandRidge Energy had a negative net margin of 12.90% and a positive return on equity of 4.38%. analysts predict that SandRidge Energy Inc. will post 0.08 EPS for the current year.

Large investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in SandRidge Energy by 13.1% in the 4th quarter. Wells Fargo & Company MN now owns 130,891 shares of the oil and natural gas company’s stock valued at $2,758,000 after purchasing an additional 15,174 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in SandRidge Energy in the 4th quarter valued at approximately $273,000. BlackRock Inc. lifted its stake in SandRidge Energy by 18.6% in the 4th quarter. BlackRock Inc. now owns 2,242,408 shares of the oil and natural gas company’s stock valued at $47,247,000 after purchasing an additional 352,201 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in SandRidge Energy by 376.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 388,947 shares of the oil and natural gas company’s stock valued at $8,195,000 after purchasing an additional 307,247 shares during the last quarter. Finally, Virtu Financial LLC lifted its stake in SandRidge Energy by 103.3% in the 4th quarter. Virtu Financial LLC now owns 35,630 shares of the oil and natural gas company’s stock valued at $751,000 after purchasing an additional 18,102 shares during the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.

About SandRidge Energy

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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