Denali Advisors LLC Boosts Holdings in SandRidge Energy, Inc. (NYSE:SD)

Denali Advisors LLC raised its holdings in SandRidge Energy, Inc. (NYSE:SD) by 87.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 172,800 shares of the oil and natural gas company’s stock after acquiring an additional 80,500 shares during the period. Denali Advisors LLC’s holdings in SandRidge Energy were worth $2,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of SandRidge Energy by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,683,520 shares of the oil and natural gas company’s stock worth $26,364,000 after purchasing an additional 28,616 shares during the period. American Century Companies Inc. grew its holdings in shares of SandRidge Energy by 10.0% during the 3rd quarter. American Century Companies Inc. now owns 475,889 shares of the oil and natural gas company’s stock worth $7,452,000 after purchasing an additional 43,075 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of SandRidge Energy by 18.0% during the 4th quarter. Russell Investments Group Ltd. now owns 120,653 shares of the oil and natural gas company’s stock worth $1,649,000 after purchasing an additional 18,373 shares during the period. Raymond James & Associates boosted its holdings in SandRidge Energy by 99.2% in the 4th quarter. Raymond James & Associates now owns 120,594 shares of the oil and natural gas company’s stock worth $1,649,000 after acquiring an additional 60,065 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in SandRidge Energy by 115.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 105,561 shares of the oil and natural gas company’s stock worth $1,443,000 after acquiring an additional 56,580 shares during the period. Hedge funds and other institutional investors own 61.84% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TheStreet cut SandRidge Energy from a “b” rating to a “c+” rating in a report on Wednesday, March 6th.

SandRidge Energy Price Performance

NYSE SD traded up $0.23 on Wednesday, reaching $13.08. The company had a trading volume of 195,439 shares, compared to its average volume of 389,119. The firm has a market capitalization of $485.53 million, a PE ratio of 9.88 and a beta of 2.15. SandRidge Energy, Inc. has a 1 year low of $11.51 and a 1 year high of $17.19. The firm has a 50-day moving average of $13.47 and a 200-day moving average of $13.68.

SandRidge Energy (NYSE:SD) last announced its earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.23 earnings per share (EPS) for the quarter. SandRidge Energy had a return on equity of 11.41% and a net margin of 35.52%. The company had revenue of $30.28 million for the quarter.

SandRidge Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Thursday, May 16th. SandRidge Energy’s payout ratio is 33.85%.

SandRidge Energy Profile

SandRidge Energy, Inc engages in the acquisition, development, and production of oil, natural gas, and natural gas liquids in the United States Mid-Continent. The company was incorporated in 2006 and is headquartered in Oklahoma City, Oklahoma.