Creative Planning Increases Stock Holdings in SandRidge Energy, Inc. (NYSE:SD)

Creative Planning lifted its stake in shares of SandRidge Energy, Inc. (NYSE:SD) by 47.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 15,685 shares of the oil and natural gas company’s stock after buying an additional 5,073 shares during the period. Creative Planning’s holdings in SandRidge Energy were worth $192,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in SandRidge Energy in the second quarter worth $25,000. Quarry LP purchased a new position in SandRidge Energy in the second quarter worth $25,000. The Manufacturers Life Insurance Company boosted its position in 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. Lakewood Asset Management LLC boosted its position in SandRidge Energy by 9.0% in the third quarter. Lakewood Asset Management LLC now owns 15,265 shares of the oil and natural gas company’s stock worth $187,000 after purchasing an additional 1,265 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in SandRidge Energy in the second quarter worth $224,000. Hedge funds and other institutional investors own 61.84% of the company’s stock.

SandRidge Energy Stock Performance

SD stock opened at $11.84 on Tuesday. The stock’s fifty day simple moving average is $11.91 and its two-hundred day simple moving average is $12.79. SandRidge Energy, Inc. has a 1-year low of $10.94 and a 1-year high of $15.31. The stock has a market cap of $440.23 million, a P/E ratio of 9.25 and a beta of 2.10.

SandRidge Energy (NYSE:SD) last issued its earnings results on Wednesday, November 6th. The oil and natural gas company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.08). The firm had revenue of $30.06 million during the quarter. SandRidge Energy had a net margin of 39.25% and a return on equity of 7.96%.

SandRidge Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.11 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.44 annualized dividend and a dividend yield of 3.72%. SandRidge Energy’s payout ratio is presently 34.38%.

About SandRidge Energy

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.