Rubric Capital Management LP Increases Stake in SandRidge Energy Inc. (SD)

Rubric Capital Management LP lifted its holdings in shares of SandRidge Energy Inc. (NYSE:SD) by 39.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,353,571 shares of the oil and natural gas company’s stock after acquiring an additional 384,171 shares during the period. SandRidge Energy accounts for about 1.6% of Rubric Capital Management LP’s holdings, making the stock its 22nd biggest position. Rubric Capital Management LP owned approximately 3.82% of SandRidge Energy worth $14,713,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. grew its position in SandRidge Energy by 1.7% in the 2nd quarter. BlackRock Inc. now owns 2,345,696 shares of the oil and natural gas company’s stock valued at $41,613,000 after buying an additional 39,017 shares during the last quarter. Cannell Capital LLC grew its position in SandRidge Energy by 55.9% in the 2nd quarter. Cannell Capital LLC now owns 957,427 shares of the oil and natural gas company’s stock valued at $16,985,000 after buying an additional 343,216 shares during the last quarter. Benefit Street Partners LLC grew its position in SandRidge Energy by 1.7% in the 2nd quarter. Benefit Street Partners LLC now owns 675,929 shares of the oil and natural gas company’s stock valued at $11,991,000 after buying an additional 11,456 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its position in SandRidge Energy by 13.1% in the 3rd quarter. Dalton Greiner Hartman Maher & Co. now owns 294,032 shares of the oil and natural gas company’s stock valued at $3,196,000 after buying an additional 34,146 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in SandRidge Energy in the 2nd quarter valued at $3,360,000. Institutional investors and hedge funds own 57.24% of the company’s stock.

SandRidge Energy stock opened at $9.80 on Monday. SandRidge Energy Inc. has a one year low of $8.69 and a one year high of $21.90. The firm has a market capitalization of $342.30 million, a price-to-earnings ratio of 12.79 and a beta of 1.15.

SandRidge Energy (NYSE:SD) last released its earnings results on Thursday, November 8th. The oil and natural gas company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.22. SandRidge Energy had a positive return on equity of 3.23% and a negative net margin of 22.94%. The company had revenue of $97.66 million during the quarter.

Separately, ValuEngine upgraded shares of SandRidge Energy from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 10th.

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SandRidge Energy Company Profile

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, 2017, it had 2,096.8 net producing wells; approximately 643,000 net acres under lease; and two rigs drilling in the Mid-Continent and two rigs drilling in the North Park Basin, as well as total estimated proved reserves of 177.6 million barrels of oil equivalent.

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Institutional Ownership by Quarter for SandRidge Energy (NYSE:SD)

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