One Reason SandRidge Energy (SD) Stock Is Tumbling

NEW YORK (TheStreet) -- Shares of SandRidge Energy Inc  (SD) were tumbling, lower by 5.05% to $1.03 in midday trading Friday, as oil prices slip to trade in negative territory.

Brent crude for August delivery was up 2.35% to $62.75 a barrel as of 11:47 a.m. ET today, while U.S. crude for July delivery was rising by 1.85% to $59.33 a barrel.

Oil prices were falling amid concerns over Greece, Reuters reports.

Also the U.S. shale oil output forecast that production would continue to grow this year, countered signs of a pickup in demand, according to Reuters.

Oklahoma City-based SandRidge Energy is an oil and natural gas company that focuses on exploration and production activities, operating businesses and infrastructure systems.

Insight from TheStreet's Research Team

SandRidge Energy is a core holding of David Peltier's Stocks Under $10 Portfolio. During the most recent weekly roundup, this is what Dave had to say about the stock:

SandRidge Energy (SD; $1.11; 1,600 shares; 0.96%; Inflection Point; $8 price target): The company explores for natural gas and oil in the U.S., primarily onshore. The stock fell 5% this week. We maintain SandRidge is better hedged and has relatively less debt than its peers.

- David Peltier, 'Stocks Under $10 Weekly Roundup' originally published 6/12/15 on Stocks Under $10.

Want more information like this from David Peltier BEFORE your stock moves? Learn more about Stocks Under $10 now!

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