Short Interest in SandRidge Energy, Inc. (SD) Grows By 112.1%

SandRidge Energy, Inc. (NYSE:SD) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 2,865,593 shares, a growth of 112.1% from the November 15th total of 1,351,078 shares. Approximately 9.8% of the shares of the stock are sold short. Based on an average daily volume of 1,177,757 shares, the days-to-cover ratio is currently 2.4 days.

Shares of SandRidge Energy (SD) opened at $18.12 on Friday. SandRidge Energy has a 1 year low of $14.65 and a 1 year high of $24.00. The firm has a market cap of $651.97 and a price-to-earnings ratio of -1.19. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.12 and a quick ratio of 1.12.

SandRidge Energy (NYSE:SD) last announced its quarterly earnings results on Wednesday, November 1st. The oil and natural gas company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.13. SandRidge Energy had a negative net margin of 73.96% and a positive return on equity of 9.09%. The company had revenue of $80.89 million for the quarter, compared to analysts’ expectations of $77.60 million. analysts forecast that SandRidge Energy will post 1.45 EPS for the current fiscal year.

In related news, major shareholder Carl C. Icahn bought 869,184 shares of the stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $16.11 per share, with a total value of $14,002,554.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Carl C. Icahn bought 1,257,242 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was bought at an average cost of $16.34 per share, for a total transaction of $20,543,334.28. The disclosure for this purchase can be found here. 3.60% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA bought a new position in shares of SandRidge Energy in the second quarter worth about $119,000. Legal & General Group Plc bought a new position in shares of SandRidge Energy in the second quarter worth about $152,000. SG Americas Securities LLC bought a new position in shares of SandRidge Energy in the third quarter worth about $191,000. California Public Employees Retirement System bought a new position in shares of SandRidge Energy in the first quarter worth about $209,000. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of SandRidge Energy by 28.0% in the second quarter. UBS Asset Management Americas Inc. now owns 14,645 shares of the oil and natural gas company’s stock worth $252,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 10.12% of the company’s stock.

Several equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of SandRidge Energy from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of SandRidge Energy from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Thursday, October 26th.

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About SandRidge Energy

SandRidge Energy, Inc is an oil and natural gas company. The Company is engaged in the exploration, development and production of crude oil, natural gas and natural gas liquids. It operates through two segments: exploration and production, which is engaged in the exploration and production of oil and natural gas properties and includes its proportionate share of the activities of the SandRidge Mississippian Trust I, SandRidge Mississippian Trust II and SandRidge Permian Trust (the Royalty Trusts), and midstream services, which coordinates the delivery of electricity to its exploration and production operations in the Mid-Continent.

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