SandRidge Energy Inc. (NYSE:SD) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 1,520,000 shares, an increase of 82.0% from the September 15th total of 835,100 shares. Based on an average trading volume of 245,500 shares, the days-to-cover ratio is presently 6.2 days. Approximately 4.4% of the shares of the stock are short sold.
A number of institutional investors have recently made changes to their positions in SD. Brave Asset Management Inc. grew its stake in shares of SandRidge Energy by 20.3% during the third quarter. Brave Asset Management Inc. now owns 44,500 shares of the oil and natural gas company’s stock valued at $209,000 after acquiring an additional 7,500 shares in the last quarter. Rhumbline Advisers increased its stake in SandRidge Energy by 11.8% in the third quarter. Rhumbline Advisers now owns 51,163 shares of the oil and natural gas company’s stock valued at $240,000 after acquiring an additional 5,401 shares during the period. United Services Automobile Association increased its stake in SandRidge Energy by 7.6% in the second quarter. United Services Automobile Association now owns 44,757 shares of the oil and natural gas company’s stock valued at $309,000 after acquiring an additional 3,153 shares during the period. ClariVest Asset Management LLC bought a new stake in SandRidge Energy in the second quarter valued at about $287,000. Finally, Nuveen Asset Management LLC bought a new stake in SandRidge Energy in the second quarter valued at about $5,172,000. Hedge funds and other institutional investors own 61.04% of the company’s stock.
Separately, ValuEngine upgraded SandRidge Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.
Shares of NYSE SD traded up $0.02 during midday trading on Monday, hitting $4.66. The stock had a trading volume of 183,700 shares, compared to its average volume of 286,346. The company has a market capitalization of $162.61 million, a PE ratio of 21.67 and a beta of 1.67. The stock has a 50 day simple moving average of $4.94 and a 200-day simple moving average of $6.37. SandRidge Energy has a 1 year low of $4.19 and a 1 year high of $11.62. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.06.
SandRidge Energy (NYSE:SD) last released its earnings results on Wednesday, August 7th. The oil and natural gas company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.41). The firm had revenue of $75.39 million during the quarter. SandRidge Energy had a net margin of 14.28% and a return on equity of 0.85%.
SandRidge Energy Company Profile
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, 2018, it had 1,095.8 net producing wells; approximately 571,000 net acres under lease; and 2 rigs drilling in the Mid-Continent and 1 rig drilling in the North Park Basin, as well as total estimated proved reserves of 160.2 million barrels of oil equivalent.
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