On Thursday, the oil and natural gas exploration company declared a semi-annual dividend of $3 a share on its 2 million shares of 6% convertible perpetual preferred stock. The company will pay the dividend in cash on July 15 to shareholders of record on July 1.
The stock was up 2.3% to $7.11 at 1:12 p.m. More than 9.2 million shares changed hands, which beat the average volume of 7,647,110.
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Separately, TheStreet Ratings team rates SANDRIDGE ENERGY INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate SANDRIDGE ENERGY INC (SD) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, poor profit margins and weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: