SandRidge Energy Inc. (NYSE:SD) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,520,000 shares, an increase of 82.0% from the September 30th total of 835,100 shares. Based on an average daily volume of 245,500 shares, the short-interest ratio is presently 6.2 days. Approximately 4.4% of the shares of the stock are sold short.
Separately, ValuEngine upgraded SandRidge Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.
Shares of SD traded down $0.40 during midday trading on Monday, hitting $4.72. The company’s stock had a trading volume of 276,128 shares, compared to its average volume of 283,447. SandRidge Energy has a one year low of $4.19 and a one year high of $11.62. The company’s fifty day simple moving average is $4.69 and its two-hundred day simple moving average is $6.12. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $182.98 million, a price-to-earnings ratio of 23.81 and a beta of 1.65.
Several institutional investors and hedge funds have recently modified their holdings of the company. PenderFund Capital Management Ltd. bought a new position in shares of SandRidge Energy in the 2nd quarter valued at $7,162,000. BlackRock Inc. increased its stake in shares of SandRidge Energy by 2.4% in the 2nd quarter. BlackRock Inc. now owns 2,296,752 shares of the oil and natural gas company’s stock valued at $15,895,000 after purchasing an additional 53,527 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of SandRidge Energy by 11.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,750,935 shares of the oil and natural gas company’s stock valued at $12,117,000 after purchasing an additional 174,332 shares during the last quarter. Nuveen Asset Management LLC bought a new position in shares of SandRidge Energy in the 2nd quarter valued at $5,172,000. Finally, Man Group plc increased its stake in shares of SandRidge Energy by 5.4% in the 2nd quarter. Man Group plc now owns 648,881 shares of the oil and natural gas company’s stock valued at $4,490,000 after purchasing an additional 33,145 shares during the last quarter. Institutional investors own 58.11% of the company’s stock.
SandRidge Energy Company Profile
SandRidge Energy, Inc engages in the exploration, development, and production of oil, natural gas, and natural gas liquids primarily in the Mid-Continent and North Park Basin of the United States. As of December 31, 2018, it had 1,095.8 net producing wells; approximately 571,000 net acres under lease; and 2 rigs drilling in the Mid-Continent and 1 rig drilling in the North Park Basin, as well as total estimated proved reserves of 160.2 million barrels of oil equivalent.
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