SandRidge Energy (NYSE:SD) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

SandRidge Energy (NYSE:SD) issued its quarterly earnings data on Wednesday. The oil and natural gas company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.10, Zacks reports. SandRidge Energy had a return on equity of 10.05% and a net margin of 51.77%.The firm had revenue of $39.82 million during the quarter, compared to analyst estimates of $38.80 million.

SandRidge Energy Stock Up 7.2%

Shares of SD traded up $0.88 during mid-day trading on Thursday, hitting $13.10. The stock had a trading volume of 315,390 shares, compared to its average volume of 307,403. The company has a market cap of $481.30 million, a PE ratio of 6.43 and a beta of 0.90. The company’s fifty day simple moving average is $11.65 and its two-hundred day simple moving average is $10.91. SandRidge Energy has a fifty-two week low of $8.81 and a fifty-two week high of $13.43.

SandRidge Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.12 dividend. The ex-dividend date is Friday, November 14th. This represents a $0.48 annualized dividend and a dividend yield of 3.7%. SandRidge Energy’s dividend payout ratio (DPR) is presently 23.53%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of SandRidge Energy in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Insider Activity at SandRidge Energy

In other news, Director Vincent J. Intrieri bought 25,000 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $10.96 per share, for a total transaction of $274,000.00. Following the transaction, the director owned 46,976 shares in the company, valued at $514,856.96. The trade was a 113.76% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in SandRidge Energy by 92.8% during the 2nd 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. The Manufacturers Life Insurance Company boosted its position in SandRidge Energy by 23.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,995 shares of the oil and natural gas company’s stock valued at $151,000 after purchasing an additional 2,688 shares during the period. Gabelli Funds LLC acquired a new position in SandRidge Energy during the 2nd quarter valued at approximately $190,000. Franklin Resources Inc. boosted its position in SandRidge Energy by 18.9% during the 2nd quarter. Franklin Resources Inc. now owns 21,355 shares of the oil and natural gas company’s stock valued at $231,000 after purchasing an additional 3,396 shares during the period. Finally, Quantbot Technologies LP boosted its position in SandRidge Energy by 15.8% during the 2nd quarter. Quantbot Technologies LP now owns 21,769 shares of the oil and natural gas company’s stock valued at $236,000 after purchasing an additional 2,977 shares during the period. Institutional investors and hedge funds own 61.84% of the company’s stock.

SandRidge Energy Company Profile

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.