Why SandRidge Energy (SD) Is Up Today

NEW YORK (TheStreet) -- SandRidge Energy (SD) was gaining 1.8% to $6.45 on Friday following better-than-expected quarterly results and despite receiving a subpoena regarding antitrust violations.

For the fourth quarter, SandRidge Energy posted earnings of 3 cents a share, while analysts expected the company to break even for the quarter. The energy company reported revenue of $465.1 million, beating analysts' estimates of $454.4 million.

The company announced that daily production for the quarter was 89.2 million barrels of oil equivalent per day.

In a separate filing, SandRidge disclosed that it received a subpoena from the U.S. Department of Justice on Dec. 18, 2013. The subpoena is connected to an ongoing investigation of possible antitrust law violations in relation to the purchase or lease of land, oil, or natural gas rights. The company said it is complying with the investigation. 

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TheStreet Ratings team rates SANDRIDGE ENERGY INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about its recommendation:

"We rate SANDRIDGE ENERGY INC (SD) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity and generally high debt management risk."

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