Freedom Capital Upgrades SandRidge Energy (NYSE:SD) to Hold

SandRidge Energy (NYSE:SD) was upgraded by investment analysts at Freedom Capital from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently weighed in on SD. Weiss Ratings upgraded SandRidge Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 6th. Wall Street Zen lowered SandRidge Energy from a “buy” rating to a “hold” rating in a research note on Sunday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

SandRidge Energy Stock Performance

Shares of NYSE SD opened at $15.53 on Tuesday. The stock has a market cap of $573.52 million, a PE ratio of 7.58 and a beta of 0.56. SandRidge Energy has a fifty-two week low of $9.52 and a fifty-two week high of $18.45. The stock has a fifty day moving average of $15.68 and a 200-day moving average of $15.27.

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

Institutional Investors Weigh In On SandRidge Energy

Several hedge funds have recently added to or reduced their stakes in the company. Icahn Carl C lifted its stake in SandRidge Energy by 0.8% during the fourth quarter. Icahn Carl C now owns 4,911,564 shares of the oil and natural gas company’s stock worth $70,874,000 after purchasing an additional 41,331 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of SandRidge Energy by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,262,914 shares of the oil and natural gas company’s stock valued at $25,526,000 after acquiring an additional 10,142 shares during the last quarter. First Wilshire Securities Management Inc. lifted its stake in shares of SandRidge Energy by 0.5% in the 1st quarter. First Wilshire Securities Management Inc. now owns 1,407,863 shares of the oil and natural gas company’s stock valued at $22,962,000 after acquiring an additional 6,886 shares during the last quarter. Royce & Associates LP lifted its stake in shares of SandRidge Energy by 2.6% in the 3rd quarter. Royce & Associates LP now owns 1,275,040 shares of the oil and natural gas company’s stock valued at $14,382,000 after acquiring an additional 31,789 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of SandRidge Energy by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,255,062 shares of the oil and natural gas company’s stock valued at $18,111,000 after acquiring an additional 10,621 shares during the last quarter. 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.