SandRidge Energy, Inc. (NYSE:SD) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 2,285,722 shares, an increase of 241.8% from the June 15th total of 668,638 shares. Approximately 7.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 703,187 shares, the days-to-cover ratio is currently 3.3 days.
Shares of SandRidge Energy (SD) opened at 19.00 on Wednesday. The company has a market capitalization of $647.44 million and a P/E ratio of 4.82. The company’s 50 day moving average price is $18.08 and its 200 day moving average price is $19.16. SandRidge Energy has a 12 month low of $15.03 and a 12 month high of $26.85.
Several analysts recently weighed in on SD shares. Mizuho started coverage on SandRidge Energy in a research report on Tuesday, April 25th. They set a “buy” rating and a $25.00 price objective for the company. Zacks Investment Research upgraded SandRidge Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 1st. Finally, Seaport Global Securities downgraded SandRidge Energy from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Wednesday, June 21st.
A number of institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in SandRidge Energy by 17.7% in the first quarter. Bank of New York Mellon Corp now owns 17,238 shares of the oil and natural gas company’s stock valued at $319,000 after buying an additional 2,588 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of SandRidge Energy by 6.0% in the first quarter. HighTower Advisors LLC now owns 70,338 shares of the oil and natural gas company’s stock valued at $1,284,000 after buying an additional 4,000 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of SandRidge Energy by 11.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 40,468 shares of the oil and natural gas company’s stock valued at $749,000 after buying an additional 4,104 shares during the period. Kirr Marbach & Co. LLC IN raised its stake in shares of SandRidge Energy by 56.9% in the second quarter. Kirr Marbach & Co. LLC IN now owns 16,955 shares of the oil and natural gas company’s stock valued at $292,000 after buying an additional 6,150 shares during the period. Finally, California Public Employees Retirement System purchased a new stake in shares of SandRidge Energy during the first quarter valued at about $209,000. Institutional investors and hedge funds own 64.43% of the company’s stock.
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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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