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OKLAHOMA CITY - SandRidge Energy, Inc. (NYSE: SD), currently trading at $11.25 per share with a market capitalization of $419 million, has reported its financial and operational results for the fiscal year ended December 31, 2024, highlighting a significant increase in oil production and the declaration of a cash dividend. According to InvestingPro analysis, the stock appears undervalued based on its Fair Value metrics, suggesting potential upside for investors.
The company’s oil production rose by 28% compared to the same period in 2023, with an average of 19.1 thousand barrels of oil equivalent per day (MBoe/d) produced in the fourth quarter. This marks a 19% increase on a Boe basis from the previous year. SandRidge also successfully completed and initiated production from its first operated wells in the Cherokee play in 2024, achieving costs below the historical industry average.
SandRidge’s financial performance for 2024 included a net income of $63.0 million, or $1.70 per basic share, with an adjusted net income of $34.5 million, or $0.93 per basic share. Adjusted EBITDA for the year was $69.5 million. The company had $99.5 million in cash and cash equivalents as of December 31, 2024, and carries no outstanding term or revolving debt obligations. InvestingPro data shows the company maintains a healthy current ratio of 2.14 and trades at an attractive P/E ratio of 8.85, with several additional financial health indicators available to Pro subscribers.
On March 7, 2025, SandRidge’s Board declared a cash dividend of $0.11 per share of the company’s common stock, payable on March 31, 2025, to shareholders of record as of March 20, 2025. In 2024, SandRidge paid $16.4 million in regular quarterly dividends and a one-time special dividend of $55.9 million. The company currently offers a dividend yield of 3.96%, making it an interesting option for income-focused investors. For deeper insights into SandRidge’s dividend sustainability and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro.
The company’s 2025 guidance includes a development plan for the Cherokee Shale with eight wells to be drilled and six to be completed. SandRidge remains committed to growing its asset base efficiently and safely, while prudently allocating capital to high-return projects.
SandRidge has also emphasized its commitment to environmental, social, and governance (ESG) standards, including no routine flaring of natural gas, transporting over 90% of its produced water via pipeline, and maintaining a record of more than three years without a recordable safety incident.
The information presented in this article is based on a press release statement from SandRidge Energy, Inc.
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