SandRidge Energy Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever holds this stock owns a debt-free producer trading near the value of its oil plus its cash, and is betting that management converts the expiring tax shield into producing wells fast enough to matter — with Carl Icahn's son now in the boardroom watching the same question. Whoever buys today is additionally betting on the price of gas and oil in 2028 to 2030, because that is when the vouchers start running out and when the Cherokee program has to have paid for itself; the dividend will not pay you to wait, as the 80 percent cut showed. Whoever wants clarity first can watch two numbers in the coming quarterly reports — whether production holds above 18 MBoe/d on the new capital budget, and how much cash is left once the $65 million acquisition closes. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
SandRidge Energy is a rarity: a debt-free, genuinely profitable small-cap oil and gas producer that pays no income tax at all, scores a perfect 9 of 9 on the standard test of book quality, and in 2025 grew both production (+11.8 percent) and proved reserves (+9.5 percent). The market still pays only about book value for it — and the filings show why the discount is not irrational: approximately $0.7 billion of the $1.6 billion tax shield expires from 2028, the company itself writes off 83 percent of the resulting deferred tax assets, everything sits in one basin on one rig with 10.2 years of reserves, and the cash goes into the ground — most recently $65 million for an acquisition signed June 26, 2026. Not investment advice.
Balance sheet & profitability
No debt at all, $102.7 million of cash (03/31/2026), total liabilities of just $126.2 million against $652.1 million of assets; three profitable years in a row ($60.9 / $63.0 / $70.2 million in 2023–2025) and operating cash flow of $100.1 million in 2025. Piotroski 9 of 9, Altman-Z 6.96 (data as of July 8, 2026); production costs down to $5.35 per Boe from $6.80 in 2023.
The tax shield
Real but heavily discounted: $1.6 billion of federal NOLs make the profits tax-free (cash taxes 2023–2025 "de minimis", tax line of $0 in Q1 2026), and on the booked reserves the standardized measure equals PV-10 exactly. But approximately $0.7 billion expires 2028–2037, the company writes off $384.9 million of $463.2 million in deferred tax assets itself (83 percent), and at the 2025 pretax rate of $64.7 million consuming the full amount would take roughly 25 years.
Growth & reserves
Production rose 11.8 percent to 18.5 MBoe/d in 2025 and held at 18.6 MBoe/d in Q1 2026; proved reserves grew 9.5 percent to 69.1 MMBoe and PV-10 from $362.7 to $439.6 million — a producer replacing more than it pumps. The growth was bought, though: $121.9 million for the Cherokee Play acquisition of August 2024 and $65 million for the follow-up deal signed June 26, 2026, and a reserves-to-production ratio of 10.2 years makes further drilling mandatory rather than optional.
Capital allocation & payout
The dividend was cut roughly 80 percent, from $81.5 million (2023) via $72.3 million (2024) to $15.9 million / $0.46 per share (2025), to fund drilling and acquisitions; free cash flow narrowed to $32.5 million against a 2026 capital budget of $76.0–97.0 million. The May 5, 2026 raise to $0.13 per quarter looks small next to the June 26, 2026 acquisition, which ties up roughly 63 percent of the cash. The $75.0 million buyback is 91 percent unused after two and a half years, and the filing promises nothing: "There is no guarantee of future dividends or stock repurchases."
Concentration & price exposure
All production and reserves sit in the Mid-Continent, worked by a single rig ("All of our production and reserves are located in the Mid-Continent region", 10-K 2025, Item 1A) — and the June 2026 acquisition sits in the very same Cherokee Play. Revenue is a price bet: with more barrels produced in 2025 than in 2022, revenue was 38 percent lower ($156.4 vs. $254.3 million); nearly half of volume is natural gas, realized at $2.10 per Mcf in 2025, and hedging is modest.
Valuation & signals
Cheap on every ratio — P/E about 6.7, price-to-book about 0.96, EV of some $403 million or about 3.5 times EBITDA — and roughly at the sum of PV-10 ($439.6 million) plus cash. Against that: a stock flat year to date in stage 1 with a relative-strength rating of 43, and an "analyst consensus" consisting of exactly one rating (target $15). Carl Icahn holds about 13.4 percent; Brett Icahn joined the board on August 1, 2025 (data as of July 8, 2026).
Worth Noting
SD reached our research list via the Reddit hype scanner (ApeWisdom, 2 mentions in 24 hours, as of July 16, 2026) — the silence is the point: this is a profitable, debt-free producer nobody is shouting about. The 12 hits in our in-house stock scanner were recomputed on July 16, 2026 and rotate daily; the underlying fundamental metrics carry the July 8, 2026 data cut-off.
Identity check: SandRidge files under CIK 0001349436 (formerly Riata Energy, Inc.) and has done so continuously; the Form 15-12B of June 23, 2017 deregistered a class of securities after the reorganization and did not create a successor issuer. Filings are 10-K/10-Q — SandRidge is a U.S. domestic filer, not a foreign private issuer.
PV-10 and the standardized measure are computed at the SEC-prescribed 12-month average prices held constant for the life of the properties; they are a standardized yardstick, not a market appraisal, and exclude hedging.
Currency status: the most recent periodic report is the quarterly report (10-Q) as of March 31, 2026. Reviewed after that: the Forms 8-K of June 16, 2026 (Amendment No. 3 to the Tax Benefits Preservation Plan extending it to July 1, 2029; annual meeting with 36,918,259 shares outstanding as of the April 13, 2026 record date) and June 29, 2026 (Cherokee Play purchase and sale agreement for $65 million). The Form 144 notices filed between June 24 and July 23, 2026 relate to a former affiliate and add up to roughly 0.35 percent of the shares outstanding — immaterial.
Price and valuation figures are dated to July 8, 2026 (about $13.60, market value roughly $506 million); analyses are evergreen, daily prices are not a buy argument.
Stock Watch
This analysis is as of August 4, 2026. Stock Watch will tell you what's changed at SD since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 11.20 $ to 18.10 $ · Last price: 14.30 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Oil & Gas E&P
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| SandRidge Energy Inc SD | 0.5 | 6.8 | 3.4 | 70.7 | – | 24.8 | 28.8 |
| ConocoPhillips COP | 162.3 | 22.7 | 6.5 | 47.6 | 22.1 | 7.5 | 46.4 |
| EOG Resources Inc EOG | 78.1 | 14.3 | 5.8 | 62.6 | 37.9 | -3.5 | 25.6 |
| Occidental Petroleum Corporation OXY | 59.0 | 77.4 | 5.6 | 73.3 | 17.7 | -20.3 | 26.8 |
| Devon Energy Corporation DVN | 55.7 | 13.4 | 7.4 | 50.3 | 6.9 | 7.8 | 42.1 |
| Diamondback Energy Inc FANG | 55.4 | 199.4 | 9.4 | 72.4 | 5.8 | 36.3 | 43.9 |
| EQT Corporation EQT | 31.6 | 9.8 | 5.6 | 80.8 | 57.4 | 73.7 | 2.1 |
| Texas Pacific Land Corporation TPL | 23.4 | 47.7 | 33.1 | 93.3 | 77.2 | 13.1 | 14.8 |
| Expand Energy Corporation EXE | 21.1 | 6.5 | 3.7 | 47.1 | 34.0 | 176.0 | -9.4 |
| Median of companies shown | 55.4 | 14.3 | 5.8 | 70.7 | 28.0 | 13.1 | 26.8 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 769 | -4,643 | -3,698 | -7.08 | -46 | 513 | 1,081 |
| 2017 | 357 | 40 | 47 | 1.44 | 181 | 840 | 1,120 |
| 2018 | 349 | -10 | -9 | -0.26 | 146 | 848 | 1,024 |
| 2019 | 267 | -447 | -449 | -12.68 | 121 | 402 | 608 |
| 2020 | 115 | -274 | -277 | -7.77 | 36 | 128 | 261 |
| 2021 | 169 | 114 | 117 | 3.13 | 110 | 245 | 353 |
| 2022 | 254 | 175 | 242 | 6.52 | 165 | 488 | 601 |
| 2023 | 149 | 64 | 61 | 1.64 | 116 | 468 | 574 |
| 2024 | 125 | 33 | 63 | 1.69 | 74 | 461 | 582 |
| 2025 | 156 | 54 | 70 | 1.90 | 100 | 511 | 644 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.47 | 880.10 | 39 | 14.90 | 45.10 | 26 | 13 |
| 2025: Q1 | 0.35 | 17.50 | 43 | 40.70 | 30.60 | 20 | 14 |
| 2025: Q2 | 0.53 | 125.30 | 35 | 32.90 | 56.60 | 23 | 5 |
| 2025: Q3 | 0.43 | -36.80 | 40 | 32.50 | 40.10 | 25 | 6 |
| 2025: Q4 | 0.59 | 24.00 | 39 | 1.10 | 54.90 | 32 | 14 |
| 2026: Q1 | 0.50 | 43.40 | 50 | 16.80 | 37.50 | 20 | -4 |
| 2026: Q2 | 0.72 | 35.80 | 51 | 48.10 | 52.30 | 42 | 23 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 13 of our scanner strategies — each hit links to the scanner.
Growth
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 2.13 | 2.13 – 2.13 | 197 | 43.9% | 1 |
| 12/31/2027 | 1.50 | 1.50 – 1.50 | 171 | -29.6% | 1 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 1.3% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $42.5M |
|---|---|
| Market cap | $532.0M |
| Free cash flow in year ten | $48.3M |
| Terminal value as a share of market value | 47.8% |
For comparison: over the past five years free cash flow grew by 6.5% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Geprüft am 16.07.2026 gegen die beiden jüngsten Geschäftsberichte (10-K 2025, eingereicht 05.03.2026; 10-K 2024, eingereicht 11.03.2025) und die vier jüngsten Quartalsberichte (10-Q zum 31.03.2026, 30.09.2025, 30.06.2025 und 31.03.2025): In sämtlichen sechs ausgewerteten SEC-Filings von SandRidge Energy findet sich kein einziger Treffer für „artificial intelligence“, „machine learning“, „AI“ oder „algorithm“ — nicht als Umsatzquelle, nicht als operativer Einsatz, nicht als Risikofaktor in Item 1A. Dokumentierter Negativ-Befund (Volltext-Prüfung aller sechs Filings, jeweils 0 Treffer). SandRidge ist ein reiner Öl- und Gas-Förderer im Mid-Continent (Oklahoma/Kansas) mit 102 Vollzeitkräften, 1.446 Brutto-Förderbohrungen und genau einem aktiven Bohrturm (Stand 31.12.2025); die Strategie im 10-K 2025 dreht sich ausschließlich um Cherokee-Play-Entwicklung, Kapitaldisziplin und die Nutzung der Verlustvorträge („while utilizing our net operating loss carry forwards to maximize cash flow“). Auch das in der Branche naheliegende KI-nahe Endmarkt-Narrativ (Erdgas für Rechenzentren) kommt in den Filings nicht vor. Nach dem Kriterienkatalog damit eindeutig „neutral“.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-05-07 · 10-K 2026-03-05 · 10-Q 2025-11-06 · 10-Q 2025-08-07 · 10-Q 2025-05-08 · 10-K 2025-03-11
Rated on July 16, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -15.0%
- More than 10% revenue growth is expected for the coming year -16.5%
- Share count grows by less than 3% a year -0.2%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 45.6%
- Gross margin at 40% or higher and without meaningful erosion 43.1%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 111 m net cash
- Operating cash flow covers the profits of the last three years 96 m
- Return on capital at 15% or higher, or up versus two years ago 9.4%
- Insiders hold at least 10% or are net buyers 1.7%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
1/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -16.2%
- Exp. sales growth 3Y > 5% 4.6%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% -11.2%
- Net debt < 4x EBIT -2.0x
- EBIT positive, 10Y straight 6
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 13.7%
- ROCE > 15% 9.4%
- Expected return > 10% -5.8%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 1, 2026 | Parrish Dean | EVP & Chief Operating Officer | Other | 289 | 14.37 | 4,153 |
| Sep 1, 2026 | Parrish Dean | EVP & Chief Operating Officer | Other | 1,000 | 0.00 | – |
| Sep 1, 2026 | Brown Brandon Louis Sr. | SVP, Chief Accounting Officer | Other | 244 | 14.37 | 3,506 |
| Sep 1, 2026 | Brown Brandon Louis Sr. | SVP, Chief Accounting Officer | Other | 1,000 | 0.00 | – |
The company
About the Company
SandRidge Energy, Inc. beschäftigt sich mit dem Erwerb, der Erschließung und der Förderung von Öl und Erdgas in der Mid-Continent-Region der USA.
- Employees
- 102
- Headquarters
- Oklahoma City, OK
- Address
- 1 East Sheridan Ave, 73104 Oklahoma City, United States
- Phone
- 405 429 5500
- Website
- sandridgeenergy.com
- IPO Date
- 11/06/2007
- ISIN
- US80007P8692
Management
| Name | Title | Birth Year |
|---|---|---|
| Grayson R. Pranin Jr. | President, CEO & Director | 1980 |
| Jonathan Frates | Executive VP & CFO | 1983 |
| Dean Parrish | Executive VP & COO | 1988 |
| Brandon L. Brown Sr. | Senior VP & Chief Accounting Officer | 1979 |
| Scott Prestridge | SVP of Finance & Strategy | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/05/2026 SANDRIDGE ENERGY INC (SD): Results of Operations and Financial Condition; Other Events; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.