Rhumbline Advisers Reduces Position in SandRidge Energy Inc. (NYSE:SD)
Rhumbline Advisers trimmed its position in SandRidge Energy Inc. (NYSE:SD) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,241 shares of the oil and natural gas company’s stock after selling 3,567 shares during the quarter. Rhumbline Advisers owned approximately 0.09% of SandRidge Energy worth $572,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of SD. Engineers Gate Manager LP bought a new position in shares of SandRidge Energy during the 2nd quarter valued at about $218,000. Dalton Greiner Hartman Maher & Co. lifted its stake in SandRidge Energy by 65.4% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 259,886 shares of the oil and natural gas company’s stock valued at $4,610,000 after buying an additional 102,765 shares in the last quarter. Highbridge Capital Management LLC lifted its stake in SandRidge Energy by 365.4% during the first quarter. Highbridge Capital Management LLC now owns 49,561 shares of the oil and natural gas company’s stock valued at $719,000 after buying an additional 38,913 shares in the last quarter. Sound Point Capital Management LP purchased a new stake in SandRidge Energy during the first quarter valued at about $6,008,000. Finally, Cannell Capital LLC lifted its stake in SandRidge Energy by 11.7% during the first quarter. Cannell Capital LLC now owns 614,211 shares of the oil and natural gas company’s stock valued at $8,912,000 after buying an additional 64,180 shares in the last quarter. 16.28% of the stock is currently owned by hedge funds and other institutional investors.
SD stock traded up $0.02 during mid-day trading on Friday, reaching $10.92. 238,298 shares of the stock traded hands, compared to its average volume of 374,546. SandRidge Energy Inc. has a 52-week low of $10.52 and a 52-week high of $21.90. The firm has a market capitalization of $384.83 million, a PE ratio of 6.78 and a beta of 0.59.
Separately, ValuEngine lowered shares of SandRidge Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th.
About SandRidge Energy
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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