Algert Global LLC Decreases Stock Position in SandRidge Energy, Inc. (NYSE:SD)

Algert Global LLC decreased its holdings in shares of SandRidge Energy, Inc. (NYSE:SD) by 57.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 23,161 shares of the oil and natural gas company’s stock after selling 31,300 shares during the period. Algert Global LLC owned approximately 0.06% of SandRidge Energy worth $299,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC grew its holdings in shares of SandRidge Energy by 25.5% during the second quarter. Susquehanna Fundamental Investments LLC now owns 20,968 shares of the oil and natural gas company’s stock valued at $271,000 after buying an additional 4,263 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of SandRidge Energy by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 12,496 shares of the oil and natural gas company’s stock worth $162,000 after purchasing an additional 756 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in shares of SandRidge Energy by 84.2% during the second quarter. Deerfield Management Company L.P. Series C now owns 41,580 shares of the oil and natural gas company’s stock worth $538,000 after purchasing an additional 19,001 shares during the period. Denali Advisors LLC boosted its position in SandRidge Energy by 69.4% in the second quarter. Denali Advisors LLC now owns 292,800 shares of the oil and natural gas company’s stock valued at $3,786,000 after buying an additional 120,000 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in SandRidge Energy by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,524,312 shares of the oil and natural gas company’s stock worth $19,709,000 after buying an additional 79,400 shares during the last quarter. Institutional investors and hedge funds own 61.84% of the company’s stock.

SandRidge Energy Price Performance

NYSE:SD opened at $12.62 on Wednesday. The company’s fifty day moving average price is $12.58 and its 200-day moving average price is $13.32. SandRidge Energy, Inc. has a 1-year low of $11.48 and a 1-year high of $16.60. The firm has a market capitalization of $468.52 million, a P/E ratio of 9.71 and a beta of 2.08.

SandRidge Energy (NYSE:SD) last issued its earnings results on Wednesday, August 7th. The oil and natural gas company reported $0.17 EPS for the quarter. The firm had revenue of $25.98 million for the quarter. SandRidge Energy had a return on equity of 9.88% and a net margin of 31.47%.

SandRidge Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.49%. The ex-dividend date was Friday, August 16th. SandRidge Energy’s payout ratio is currently 33.85%.

SandRidge Energy Company 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.