Franklin Resources Inc. Sells 35,806 Shares of SandRidge Energy, Inc. (NYSE:SD)

Franklin Resources Inc. reduced its position in SandRidge Energy, Inc. (NYSE:SD - Free Report) by 66.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,959 shares of the oil and natural gas company's stock after selling 35,806 shares during the quarter. Franklin Resources Inc.'s holdings in SandRidge Energy were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Teacher Retirement System of Texas grew its position in shares of SandRidge Energy by 1.0% in the fourth quarter. Teacher Retirement System of Texas now owns 143,881 shares of the oil and natural gas company's stock valued at $1,685,000 after purchasing an additional 1,474 shares in the last quarter. SG Americas Securities LLC grew its holdings in SandRidge Energy by 3.0% during the 4th quarter. SG Americas Securities LLC now owns 59,526 shares of the oil and natural gas company's stock valued at $697,000 after buying an additional 1,738 shares in the last quarter. Exchange Traded Concepts LLC increased its position in shares of SandRidge Energy by 10.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 27,570 shares of the oil and natural gas company's stock valued at $323,000 after buying an additional 2,634 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of SandRidge Energy by 9.5% in the third quarter. Sanctuary Advisors LLC now owns 39,895 shares of the oil and natural gas company's stock worth $483,000 after buying an additional 3,451 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of SandRidge Energy by 8.6% in the third quarter. JPMorgan Chase & Co. now owns 61,420 shares of the oil and natural gas company's stock worth $751,000 after buying an additional 4,868 shares in the last quarter. 61.84% of the stock is currently owned by institutional investors.

SandRidge Energy Price Performance

NYSE:SD traded up $0.02 during trading hours on Thursday, hitting $9.40. The stock had a trading volume of 8,875 shares, compared to its average volume of 301,799. SandRidge Energy, Inc. has a one year low of $8.81 and a one year high of $14.69. The company has a 50 day simple moving average of $10.87 and a two-hundred day simple moving average of $11.42. The firm has a market capitalization of $348.98 million, a price-to-earnings ratio of 7.35 and a beta of 1.66.

SandRidge Energy (NYSE:SD - Get Free Report) last announced its earnings results on Monday, March 10th. The oil and natural gas company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.14). SandRidge Energy had a return on equity of 7.92% and a net margin of 39.25%. The company had revenue of $38.97 million during the quarter, compared to analysts' expectations of $50.27 million.

SandRidge Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.68%. The ex-dividend date was Thursday, March 20th. SandRidge Energy's dividend payout ratio (DPR) is currently 25.88%.

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.