Acadian Asset Management LLC lessened its holdings in shares of SandRidge Energy Inc. (NYSE:SD) by 28.3% during the 1st quarter, HoldingsChannel reports. The fund owned 65,479 shares of the oil and natural gas company’s stock after selling 25,790 shares during the period. Acadian Asset Management LLC’s holdings in SandRidge Energy were worth $525,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Spark Investment Management LLC purchased a new position in SandRidge Energy during the 1st quarter worth approximately $706,000. West Family Investments Inc. purchased a new position in SandRidge Energy during the 4th quarter worth approximately $565,000. Raymond James Trust N.A. purchased a new position in SandRidge Energy during the 1st quarter worth approximately $80,000. Dimensional Fund Advisors LP grew its stake in SandRidge Energy by 50.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,129,584 shares of the oil and natural gas company’s stock worth $8,596,000 after buying an additional 377,729 shares during the last quarter. Finally, Cannell Capital LLC grew its stake in SandRidge Energy by 64.5% during the 4th quarter. Cannell Capital LLC now owns 1,469,667 shares of the oil and natural gas company’s stock worth $11,184,000 after buying an additional 576,425 shares during the last quarter. 65.00% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine upgraded SandRidge Energy from a “strong sell” rating to a “sell” rating in a research note on Tuesday, March 26th.
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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, 2018, it had 1,095.8 net producing wells; approximately 571,000 net acres under lease; and 2 rigs drilling in the Mid-Continent and 1 rig drilling in the North Park Basin, as well as total estimated proved reserves of 160.2 million barrels of oil equivalent.
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