SandRidge Energy (SD) Downgraded by Mizuho to Neutral

Mizuho downgraded shares of SandRidge Energy (NYSE:SD) from a buy rating to a neutral rating in a research report released on Tuesday morning. Mizuho currently has $25.00 price objective on the oil and natural gas company’s stock.

Other research analysts have also recently issued research reports about the company. ValuEngine upgraded SandRidge Energy from a hold rating to a buy rating in a report on Monday, October 2nd. Zacks Investment Research upgraded SandRidge Energy from a hold rating to a buy rating and set a $21.00 target price on the stock in a report on Thursday, October 26th.

Shares of SandRidge Energy (NYSE SD) traded down $0.93 during trading on Tuesday, reaching $20.23. The company had a trading volume of 444,900 shares, compared to its average volume of 398,240. SandRidge Energy has a 52-week low of $14.65 and a 52-week high of $22.44. The firm has a market capitalization of $754.69 and a PE ratio of -1.32. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.04.

SandRidge Energy (NYSE:SD) last issued its earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.13. SandRidge Energy had a positive return on equity of 9.09% and a negative net margin of 73.96%. The firm had revenue of $80.89 million for the quarter, compared to analysts’ expectations of $77.60 million. analysts predict that SandRidge Energy will post 1.45 EPS for the current fiscal year.

In related news, major shareholder Carl C. Icahn acquired 869,184 shares of the business’s stock in a transaction on Monday, November 20th. The shares were bought at an average cost of $16.11 per share, with a total value of $14,002,554.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Philip T. Warman sold 13,351 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $21.21, for a total value of $283,174.71. Following the completion of the transaction, the senior vice president now directly owns 50,267 shares in the company, valued at $1,066,163.07. The disclosure for this sale can be found here. Insiders sold 138,527 shares of company stock worth $2,917,714 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. increased its position in shares of SandRidge Energy by 144.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 99,024 shares of the oil and natural gas company’s stock worth $1,705,000 after acquiring an additional 58,556 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of SandRidge Energy during the second quarter worth about $371,000. Rhumbline Advisers purchased a new stake in shares of SandRidge Energy during the second quarter worth about $735,000. Bank of New York Mellon Corp increased its position in shares of SandRidge Energy by 853.5% during the second quarter. Bank of New York Mellon Corp now owns 164,369 shares of the oil and natural gas company’s stock worth $2,828,000 after acquiring an additional 147,131 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of SandRidge Energy during the second quarter worth about $152,000. 10.12% of the stock is currently owned by institutional investors.

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SandRidge Energy Company Profile

SandRidge Energy, Inc is an oil and natural gas company. The Company is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. It operates through two segments: exploration and production, which is engaged in the exploration and production of oil and natural gas properties and includes its proportionate share of the activities of the SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust (the Royalty Trusts), and midstream services, which coordinates the delivery of electricity to its exploration and production operations in the Mid-Continent.

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