SandRidge Energy’s (SD) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of SandRidge Energy (NYSE:SD) in a research report released on Tuesday morning,Weiss Ratings reports.

SandRidge Energy Trading Down 2.0%

Shares of SandRidge Energy stock opened at $11.38 on Tuesday. SandRidge Energy has a twelve month low of $8.81 and a twelve month high of $13.00. The stock has a market capitalization of $418.22 million, a P/E ratio of 5.58 and a beta of 0.90. The business’s fifty day moving average price is $11.51 and its 200 day moving average price is $10.71.

SandRidge Energy (NYSE:SD) last issued its earnings results on Wednesday, August 6th. The oil and natural gas company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.04. SandRidge Energy had a return on equity of 10.05% and a net margin of 51.77%.The firm had revenue of $34.53 million for the quarter, compared to analysts’ expectations of $37.30 million.

SandRidge Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were issued a $0.12 dividend. The ex-dividend date was Monday, September 22nd. This is an increase from SandRidge Energy’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 4.2%. SandRidge Energy’s payout ratio is 23.53%.

Insiders Place Their Bets

In other news, Director Vincent J. Intrieri bought 25,000 shares of SandRidge Energy stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of $10.96 per share, for a total transaction of $274,000.00. Following the completion of the acquisition, the director owned 46,976 shares of the company’s stock, valued at $514,856.96. The trade was a 113.76% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its position in SandRidge Energy by 180.9% in the third quarter. CWM LLC now owns 13,654 shares of the oil and natural gas company’s stock valued at $154,000 after purchasing an additional 8,794 shares during the period. Azarias Capital Management L.P. raised its position in SandRidge Energy by 39.2% in the third quarter. Azarias Capital Management L.P. now owns 481,704 shares of the oil and natural gas company’s stock valued at $5,434,000 after purchasing an additional 135,634 shares during the period. Exchange Traded Concepts LLC raised its position in SandRidge Energy by 20.9% in the third quarter. Exchange Traded Concepts LLC now owns 24,532 shares of the oil and natural gas company’s stock valued at $277,000 after purchasing an additional 4,240 shares during the period. Tower Research Capital LLC TRC raised its position in SandRidge Energy by 92.8% in the second 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 during the period. Finally, Rafferty Asset Management LLC raised its position in SandRidge Energy by 6.4% in the second quarter. Rafferty Asset Management LLC now owns 25,053 shares of the oil and natural gas company’s stock valued at $271,000 after purchasing an additional 1,505 shares during the period. 61.84% of the stock is owned by hedge funds and other institutional investors.

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.