SandRidge Energy (NYSE:SD) Stock Price Down 8.4%

SandRidge Energy, Inc. (NYSE:SDGet Rating)’s share price fell 8.4% during trading on Friday . The company traded as low as $19.15 and last traded at $19.15. 7,833 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 1,169,788 shares. The stock had previously closed at $20.90.

Separately, StockNews.com cut SandRidge Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, May 10th.

The business has a 50 day simple moving average of $20.93 and a 200 day simple moving average of $15.38. The company has a market capitalization of $713.30 million, a PE ratio of 6.18 and a beta of 2.38.

SandRidge Energy (NYSE:SDGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The oil and natural gas company reported $0.94 earnings per share (EPS) for the quarter. SandRidge Energy had a return on equity of 49.84% and a net margin of 60.40%. The firm had revenue of $57.49 million during the quarter.

Several large investors have recently made changes to their positions in SD. Morgan Stanley raised its stake in shares of SandRidge Energy by 1,978.0% in the second quarter. Morgan Stanley now owns 129,232 shares of the oil and natural gas company’s stock worth $812,000 after purchasing an additional 123,013 shares during the last quarter. Bank of America Corp DE raised its stake in shares of SandRidge Energy by 25.2% in the second quarter. Bank of America Corp DE now owns 7,983 shares of the oil and natural gas company’s stock worth $50,000 after purchasing an additional 1,609 shares during the last quarter. Millennium Management LLC raised its position in SandRidge Energy by 13.5% during the second quarter. Millennium Management LLC now owns 71,979 shares of the oil and natural gas company’s stock valued at $452,000 after acquiring an additional 8,568 shares in the last quarter. Wells Fargo & Company MN raised its position in SandRidge Energy by 16.1% during the second quarter. Wells Fargo & Company MN now owns 14,135 shares of the oil and natural gas company’s stock valued at $89,000 after acquiring an additional 1,961 shares in the last quarter. Finally, BlackRock Inc. raised its position in SandRidge Energy by 3.8% during the third quarter. BlackRock Inc. now owns 620,075 shares of the oil and natural gas company’s stock valued at $8,068,000 after acquiring an additional 22,976 shares in the last quarter. Hedge funds and other institutional investors own 38.96% of the company’s stock.

About SandRidge Energy (NYSE:SD)

SandRidge Energy, Inc engages in the acquisition, development, and production of oil and natural gas primarily in the United States Mid-Continent. As of December 31, 2021, it had an interest in 817.0 net producing wells; and operated approximately 368,000 net leasehold acres in Oklahoma and Kansas, as well as total estimated proved reserves of 71.3 million barrels of oil equivalent.

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