First Wilshire Securities Management Inc. raised its position in SandRidge Energy, Inc. (NYSE:SD – Free Report) by 159.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,257,631 shares of the oil and natural gas company’s stock after acquiring an additional 772,981 shares during the quarter. SandRidge Energy makes up 6.2% of First Wilshire Securities Management Inc.’s investment portfolio, making the stock its 4th largest position. First Wilshire Securities Management Inc. owned 3.41% of SandRidge Energy worth $18,122,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the company. Credit Suisse AG increased its position in shares of SandRidge Energy by 1.8% during the third quarter. Credit Suisse AG now owns 41,404 shares of the oil and natural gas company’s stock valued at $675,000 after buying an additional 727 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of SandRidge Energy by 3.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,514 shares of the oil and natural gas company’s stock valued at $354,000 after buying an additional 793 shares during the period. Bank of America Corp DE increased its position in shares of SandRidge Energy by 4.0% during the first quarter. Bank of America Corp DE now owns 21,522 shares of the oil and natural gas company’s stock valued at $310,000 after buying an additional 836 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of SandRidge Energy by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 83,948 shares of the oil and natural gas company’s stock valued at $1,430,000 after buying an additional 1,104 shares during the period. Finally, KB Financial Partners LLC increased its position in shares of SandRidge Energy by 4.8% during the first quarter. KB Financial Partners LLC now owns 33,582 shares of the oil and natural gas company’s stock valued at $538,000 after buying an additional 1,536 shares during the period. Hedge funds and other institutional investors own 20.81% of the company’s stock.
Insider Transactions at SandRidge Energy
In other news, CEO Grayson R. Pranin sold 4,742 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $16.17, for a total value of $76,678.14. Following the transaction, the chief executive officer now owns 127,805 shares in the company, valued at $2,066,606.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.40% of the company’s stock.
Analyst Ratings Changes
SandRidge Energy Price Performance
NYSE:SD traded up $0.63 during mid-day trading on Tuesday, hitting $16.86. 115,021 shares of the company’s stock were exchanged, compared to its average volume of 477,617. SandRidge Energy, Inc. has a one year low of $12.62 and a one year high of $22.05. The business has a fifty day moving average price of $16.09 and a 200 day moving average price of $15.11. The company has a market cap of $623.25 million, a PE ratio of 3.02 and a beta of 2.39.
SandRidge Energy (NYSE:SD – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The oil and natural gas company reported $0.38 earnings per share (EPS) for the quarter. The firm had revenue of $33.42 million for the quarter. SandRidge Energy had a net margin of 97.92% and a return on equity of 27.76%.
SandRidge Energy Announces Dividend
The company also recently announced a — dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 14th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, August 11th. SandRidge Energy’s dividend payout ratio is presently 7.45%.
About SandRidge Energy
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, 2022, it had an interest in 1,471 gross producing wells. The company was incorporated in 2006 and is headquartered in Oklahoma City, Oklahoma.
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