Franklin Resources Inc. Reduces Holdings in SandRidge Energy, Inc. (NYSE:SD)

Franklin Resources Inc. cut its holdings in shares of SandRidge Energy, Inc. (NYSE:SD) by 3.2% in the 3rd quarter, Holdings Channel reports. The fund owned 53,765 shares of the oil and natural gas company’s stock after selling 1,794 shares during the period. Franklin Resources Inc.’s holdings in SandRidge Energy were worth $657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SD. The Manufacturers Life Insurance Company lifted its holdings in SandRidge Energy by 6.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,496 shares of the oil and natural gas company’s stock valued at $162,000 after acquiring an additional 756 shares during the last quarter. nVerses Capital LLC lifted its stake in SandRidge Energy by 57.9% during the third quarter. nVerses Capital LLC now owns 3,000 shares of the oil and natural gas company’s stock valued at $37,000 after purchasing an additional 1,100 shares during the last quarter. Lakewood Asset Management LLC boosted its holdings in SandRidge Energy by 9.0% during 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 buying an additional 1,265 shares in the last quarter. Koss Olinger Consulting LLC grew its position in SandRidge Energy by 3.7% in the third quarter. Koss Olinger Consulting LLC now owns 36,045 shares of the oil and natural gas company’s stock worth $441,000 after buying an additional 1,296 shares during the last quarter. Finally, Quarry LP bought a new position in shares of SandRidge Energy in the second quarter valued at $25,000. 61.84% of the stock is owned by hedge funds and other institutional investors.

SandRidge Energy Stock Up 8.0 %

SD opened at $11.62 on Tuesday. The firm has a market cap of $432.43 million, a PE ratio of 9.08 and a beta of 2.13. The business has a fifty day simple moving average of $11.33 and a 200-day simple moving average of $12.24. SandRidge Energy, Inc. has a fifty-two week low of $10.31 and a fifty-two week high of $15.31.

SandRidge Energy (NYSE:SD) last issued its quarterly earnings results on Wednesday, November 6th. The oil and natural gas company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.08). The company had revenue of $30.06 million during the quarter. SandRidge Energy had a return on equity of 7.92% and a net margin of 39.25%.

SandRidge Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.11 per share. The ex-dividend date was Friday, November 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.79%. SandRidge Energy’s dividend payout ratio is currently 34.38%.

SandRidge Energy Profile

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.