SandRidge Energy (SD) Downgraded by Zacks Investment Research to Strong Sell

Zacks Investment Research downgraded shares of SandRidge Energy (NYSE:SD) from a buy rating to a strong sell rating in a research report report published on Wednesday morning.

According to Zacks, “SandRidge Energy, Inc. is an oil and natural gas company. It engaged in the development and production activities of oil and gas. The company’s operating segment consists of Exploration and Production, Drilling and Oil Field Services and Midstream Gas Services. Exploration and Production segment is engaged in the acquisition, development and production of oil and natural gas properties. Drilling and Oil Field Services segment is engaged in the contract drilling of oil and natural gas wells. Midstream Gas Services segment is engaged in the purchasing, gathering, treating and selling of natural gas. SandRidge Energy, Inc. is headquartered in Oklahoma City, OK. “

Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of SandRidge Energy from a buy rating to a hold rating in a research note on Thursday, February 8th. Mizuho downgraded shares of SandRidge Energy from a buy rating to a neutral rating and set a $25.00 target price on the stock. in a research note on Tuesday, January 16th.

SandRidge Energy (NYSE SD) opened at $15.64 on Wednesday. The stock has a market cap of $553.89 and a P/E ratio of 7.00. SandRidge Energy has a 52 week low of $14.65 and a 52 week high of $21.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.04.

In related news, CFO Julian Mark Bott sold 2,373 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $21.00, for a total transaction of $49,833.00. Following the transaction, the chief financial officer now owns 157,641 shares in the company, valued at $3,310,461. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Philip T. Warman sold 13,351 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $21.21, for a total transaction of $283,174.71. Following the transaction, the senior vice president now owns 50,267 shares in the company, valued at approximately $1,066,163.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,527 shares of company stock worth $2,917,714. 3.60% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. lifted its position in SandRidge Energy by 28.0% during the second quarter. UBS Asset Management Americas Inc. now owns 14,645 shares of the oil and natural gas company’s stock valued at $252,000 after purchasing an additional 3,200 shares during the period. Goldman Sachs Group Inc. increased its holdings in SandRidge Energy by 1.5% during the second quarter. Goldman Sachs Group Inc. now owns 253,285 shares of the oil and natural gas company’s stock valued at $4,359,000 after buying an additional 3,741 shares during the last quarter. Ingalls & Snyder LLC increased its holdings in SandRidge Energy by 32.0% during the fourth quarter. Ingalls & Snyder LLC now owns 20,612 shares of the oil and natural gas company’s stock valued at $434,000 after buying an additional 5,000 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in SandRidge Energy by 3,252.5% during the fourth quarter. Meeder Asset Management Inc. now owns 6,772 shares of the oil and natural gas company’s stock valued at $142,000 after buying an additional 6,570 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in SandRidge Energy by 25.3% during the fourth quarter. California Public Employees Retirement System now owns 35,918 shares of the oil and natural gas company’s stock valued at $757,000 after buying an additional 7,260 shares during the last quarter. Institutional investors own 74.92% of the company’s stock.

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About SandRidge Energy

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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