Traders Buy High Volume of Put Options on SandRidge Energy (NYSE:SD)

SandRidge Energy, Inc. (NYSE:SDGet Rating) saw some unusual options trading activity on Tuesday. Investors purchased 7,540 put options on the company. This represents an increase of approximately 372% compared to the average daily volume of 1,599 put options.

SandRidge Energy Trading Down 0.4 %

SandRidge Energy stock opened at $17.28 on Wednesday. SandRidge Energy has a 1 year low of $9.07 and a 1 year high of $29.28. The company has a market cap of $634.90 million, a PE ratio of 4.32 and a beta of 2.36. The company’s 50-day moving average is $18.80 and its two-hundred day moving average is $18.73.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in shares of SandRidge Energy by 88.7% in the 4th quarter. Renaissance Technologies LLC now owns 480,524 shares of the oil and natural gas company’s stock valued at $5,026,000 after acquiring an additional 225,859 shares during the period. Trek Financial LLC acquired a new stake in shares of SandRidge Energy in the 1st quarter valued at approximately $2,370,000. KB Financial Partners LLC acquired a new stake in shares of SandRidge Energy in the 4th quarter valued at approximately $335,000. Cannon Global Investment Management LLC acquired a new stake in SandRidge Energy during the 1st quarter worth approximately $668,000. Finally, 683 Capital Management LLC acquired a new stake in SandRidge Energy during the 4th quarter worth approximately $380,000. 38.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of SandRidge Energy from a “buy” rating to a “hold” rating in a report on Saturday, August 13th.

About SandRidge Energy

(Get Rating)

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.

Recommended Stories

Receive News & Ratings for SandRidge Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SandRidge Energy and related companies with MarketBeat.com's FREE daily email newsletter.