SandRidge Energy Inc. (NYSE:SD) Sees Large Growth in Short Interest

SandRidge Energy Inc. (NYSE:SD) was the target of a large growth in short interest during the month of November. As of November 29th, there was short interest totalling 1,430,000 shares, a growth of 10.9% from the November 14th total of 1,290,000 shares. Based on an average trading volume of 255,600 shares, the days-to-cover ratio is presently 5.6 days. Currently, 4.1% of the shares of the company are short sold.

Several hedge funds have recently made changes to their positions in the company. Strs Ohio raised its stake in SandRidge Energy by 40.9% in the second quarter. Strs Ohio now owns 92,600 shares of the oil and natural gas company’s stock valued at $640,000 after buying an additional 26,900 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new stake in SandRidge Energy in the second quarter valued at approximately $83,000. Aperio Group LLC bought a new stake in SandRidge Energy in the second quarter valued at approximately $38,000. Swiss National Bank raised its stake in SandRidge Energy by 40.0% in the second quarter. Swiss National Bank now owns 56,400 shares of the oil and natural gas company’s stock valued at $390,000 after buying an additional 16,100 shares during the period. Finally, Brave Asset Management Inc. bought a new position in shares of SandRidge Energy during the second quarter worth approximately $256,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Shares of SD stock traded up $0.13 on Friday, hitting $4.08. 671,037 shares of the stock traded hands, compared to its average volume of 268,183. SandRidge Energy has a 52 week low of $3.20 and a 52 week high of $9.35. The firm has a 50 day simple moving average of $4.02 and a two-hundred day simple moving average of $5.31. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.10.

SandRidge Energy (NYSE:SD) last announced its quarterly earnings data on Tuesday, November 12th. The oil and natural gas company reported ($0.49) EPS for the quarter. The firm had revenue of $58.37 million for the quarter. SandRidge Energy had a negative net margin of 49.97% and a negative return on equity of 2.65%.

Separately, ValuEngine upgraded shares of SandRidge Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd.

About SandRidge Energy

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.

Featured Story: What is a Special Dividend?

Receive News & Ratings for SandRidge Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SandRidge Energy and related companies with MarketBeat.com's FREE daily email newsletter.