SandRidge Energy (NYSE:SD) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen cut shares of SandRidge Energy (NYSE:SD) from a buy rating to a hold rating in a research note published on Saturday.

SD has been the subject of a number of other research reports. Weiss Ratings lowered shares of SandRidge Energy from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. Freedom Capital upgraded shares of SandRidge Energy from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

SandRidge Energy Trading Up 2.3%

Shares of SD stock opened at $13.88 on Friday. The firm has a 50-day moving average price of $14.08 and a 200 day moving average price of $15.29. SandRidge Energy has a twelve month low of $9.89 and a twelve month high of $18.45. The company has a market capitalization of $512.45 million, a price-to-earnings ratio of 6.77 and a beta of 0.54.

SandRidge Energy (NYSE:SD) last released its earnings results on Wednesday, May 6th. The oil and natural gas company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.18. SandRidge Energy had a net margin of 46.37% and a return on equity of 12.31%. The company had revenue of $49.78 million for the quarter, compared to analyst estimates of $45.00 million.

SandRidge Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.7%. This is a positive change from SandRidge Energy’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Wednesday, May 20th. SandRidge Energy’s dividend payout ratio is presently 25.37%.

Hedge Funds Weigh In On SandRidge Energy

A number of hedge funds have recently made changes to their positions in SD. Ruggaard & Associates LLC boosted its position in SandRidge Energy by 17.7% during the 1st quarter. Ruggaard & Associates LLC now owns 12,551 shares of the oil and natural gas company’s stock worth $205,000 after purchasing an additional 1,884 shares during the period. Segall Bryant & Hamill LLC purchased a new position in SandRidge Energy in the first quarter valued at about $1,558,000. Empowered Funds LLC raised its position in SandRidge Energy by 10.1% in the first quarter. Empowered Funds LLC now owns 136,824 shares of the oil and natural gas company’s stock valued at $2,232,000 after purchasing an additional 12,560 shares during the period. Quantinno Capital Management LP lifted its stake in shares of SandRidge Energy by 24.1% during the first quarter. Quantinno Capital Management LP now owns 55,661 shares of the oil and natural gas company’s stock worth $908,000 after purchasing an additional 10,811 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of SandRidge Energy during the first quarter worth about $71,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.

About SandRidge Energy

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.