Dallas, Texas 02/11/2014 (FINANCIALSTRENDS) – In a recent development the Leon Cooperman has increased its stake in SandRidge Energy Inc. (NYSE:SD) and this stake hike is based on its latest 13G filing with the SEC that is called as Securities and Exchange Commission. With this the current stake of Leon Cooperman in SandRidge Energy Inc. is now 8.5% which comes out to be exactly 41,532,663 shares.
Earlier in the month of January 2013 SandRidge sold its Gulf of Mexico business as company wants to focus on Mid-Continent strategy. During the last trading session the shares of SandRidge Energy Inc. were trading at $6.17 per share and the 52 week high of this stock is around $6.96 and its 52 week low is around $4.52. Company has also announced that it will release its 2013 financial year and 4th Quarter 2013 results on 27th February, 2014. Barclays has announced a hold rating on this stock and is of the view that within another 6 months this stock has got a potential of giving 10 to 15 percent returns.
An Overview of the Company
SandRidge Energy Inc. (NYSE:SD) is an oil and natural gas company and has its headquarters in Oklahoma City in the United States of America. The main focus of the SandRidge Inc. is to explore and produce oil and natural gas and it also has got its subsidiaries for gathering and processing facilities. Company is also into marketing of various oil and natural gas related products.
Company’s another subsidiary called as Lariat Services Inc. operates a drilling rig and related oil field services business. The main area of focus of SandRidge is the Mid-Continent area, Gulf of Mexico, West Texas and other Gulf Coast regions. Company is very keen on finding various strategic partners and is planning to expand its operations into the different parts of the world.