SandRidge Energy (NYSE:SD) Shares Gap Up to $18.78

SandRidge Energy, Inc. (NYSE:SDGet Rating)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $18.78, but opened at $19.40. SandRidge Energy shares last traded at $19.75, with a volume of 2,895 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of SandRidge Energy from a “buy” rating to a “hold” rating in a research report on Saturday.

SandRidge Energy Stock Up 3.1 %

The company has a market cap of $711.29 million, a price-to-earnings ratio of 4.70 and a beta of 2.44. The company’s fifty day moving average price is $18.41 and its two-hundred day moving average price is $17.41.

Institutional Trading of SandRidge Energy

Hedge funds have recently modified their holdings of the company. Edge Capital Group LLC acquired a new stake in shares of SandRidge Energy during the second quarter worth approximately $51,000. Dark Forest Capital Management LP acquired a new stake in shares of SandRidge Energy in the second quarter valued at approximately $52,000. Lazard Asset Management LLC acquired a new stake in shares of SandRidge Energy in the fourth quarter valued at approximately $39,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of SandRidge Energy in the second quarter valued at approximately $59,000. Finally, Horizon Kinetics Asset Management LLC bought a new position in SandRidge Energy in the second quarter valued at approximately $159,000. Institutional investors and hedge funds own 38.96% of the company’s stock.

About SandRidge Energy

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SandRidge Energy, Inc engages in the acquisition, development, and production of oil and natural gas primarily in the United States Mid-Continent. As of December 31, 2021, it had an interest in 817.0 net producing wells; and operated approximately 368,000 net leasehold acres in Oklahoma and Kansas, as well as total estimated proved reserves of 71.3 million barrels of oil equivalent.

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