SandRidge Energy (NYSE:SD) Reports Loss in Q3; Should Replace CEO and Mull Over Sale – SD, PQ, OXY, EGN

SandRidge Energy Inc (NYSE:SD) should substitute Chairman and CEO Tom Ward and mulling over selling itself after a “disastrous” performance, according to a hedge fund TPG-Axon Capital Management LP.

SandRidge Energy, the energy corporation that has plunged 77% since it started trading in 2007, announced that its net loss in the third-quarter applicable to common stockholders was $184.30 million or $0.39 a share, evaluated against net income of $561.23 million or $1.16 a share in the Q3 of previous year.

The company reported that adjusted net income for the three months period was $29.6 million or $0.05 a share, evaluated against adjusted net income of $5.1 million or $0.01 a share in similar quarter previous year.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Petroquest Energy Inc (NYSE:PQ) rose +1.79% to settle at $5.12, Occidental Petroleum Corporation (NYSE:OXY) moved down -1.34% to end at $76.41 while Energen Corporation (NYSE:EGN) plunged -1.92% to finish at $43.47 on Thursday.

SandRidge Energy Inc. (NYSE:SD) last session’s volume of 40.54 million shares was surprisingly higher than its average volume of 11.23 million shares. The stock after opening at $6.60 hit high price of $6.66 and then closed at $6.10 by scoring +1.67%.

The liquidity measure in recent quarter results of the company was recorded 1.19 as current ratio and on the other side the debt to equity ratio was 1.25 and long-term debt to equity ratio remained at 1.25. The Company had total cash of $421.07 million at hand and a book value per share as $6.15 in the most recent quarter.

The stock’s price volatility was 4.21 % for a week and 3.77% for a month as well as price volatility’s Average True Range for 14 days was 0.26 and its beta remained at 2.10.

SD generated revenue of $1.60 billion in the previous twelve months and earned $749.55 million. The Company showed a positive 59.29% in the net profit margin as well as in its operating margin which remained at 60.58%. Company’s annual sales growth for the past five years was 29.52%.

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