SandRidge Energy, Inc. (NYSE:SD) Short Interest Down 25.0% in May

SandRidge Energy, Inc. (NYSE:SD) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 709,500 shares, a drop of 25.0% from the May 15th total of 946,000 shares. Based on an average daily volume of 297,300 shares, the short-interest ratio is currently 2.4 days. Currently, 2.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, TheStreet downgraded shares of SandRidge Energy from a “b” rating to a “c+” rating in a research note on Wednesday, March 6th.

Institutional Investors Weigh In On SandRidge Energy

Several hedge funds have recently bought and sold shares of SD. Caxton Associates LP increased its holdings in shares of SandRidge Energy by 690.0% during the first quarter. Caxton Associates LP now owns 118,492 shares of the oil and natural gas company’s stock worth $1,726,000 after purchasing an additional 103,493 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of SandRidge Energy by 3.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 39,882 shares of the oil and natural gas company’s stock worth $582,000 after purchasing an additional 1,172 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of SandRidge Energy by 88.4% during the first quarter. Russell Investments Group Ltd. now owns 227,320 shares of the oil and natural gas company’s stock worth $3,312,000 after purchasing an additional 106,667 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of SandRidge Energy during the first quarter worth approximately $243,000. Finally, SG Americas Securities LLC increased its holdings in shares of SandRidge Energy by 469.9% during the first quarter. SG Americas Securities LLC now owns 129,764 shares of the oil and natural gas company’s stock worth $1,891,000 after purchasing an additional 106,995 shares during the period. 61.84% of the stock is currently owned by institutional investors and hedge funds.

SandRidge Energy Stock Performance

NYSE:SD traded down $0.24 during mid-day trading on Friday, hitting $12.76. The stock had a trading volume of 233,722 shares, compared to its average volume of 215,677. SandRidge Energy has a twelve month low of $11.51 and a twelve month high of $17.19. The stock has a market cap of $473.65 million, a price-to-earnings ratio of 9.82 and a beta of 2.11. The company’s 50 day simple moving average is $13.89 and its 200 day simple moving average is $13.75.

SandRidge Energy (NYSE:SD) last issued 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 net margin of 35.52% and a return on equity of 11.41%. The business had revenue of $30.28 million during the quarter.

SandRidge Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.11 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.44 annualized dividend and a yield of 3.45%. SandRidge Energy’s dividend payout ratio (DPR) is presently 33.85%.

About SandRidge Energy

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.