NYSE:SDOil and Gas
SandRidge Energy (SD) Stock Shrugs Off Profit Surge As Durability Questions Persist
The market gave SandRidge Energy only a muted nod after earnings. The stock inched up about 1% to roughly US$13.60 even though the headline result was a punchy quarter of profit and production. Q2 net income landed near US$26.7 million, or about US$0.72 per share, powered by oil weighted volumes and unhedged oil realizations above US$95 per barrel.
Coming into the release, you were looking at a stock that had slipped over the past week and quarter. Today’s modest bounce suggests investors are...