Overview

* SandRidge Energy ( SD ) Q2 rev grows 33% yr/yr, driven by Cherokee acquisition

* Adjusted EPS for Q2 beats analyst expectations, reflecting strong performance

* Co announces 9% increase in quarterly dividend, payable Sept 29

Result Drivers

* CHEROKEE ACQUISITION - Co attributes 33% revenue growth to increased production from Cherokee acquisition and development program

* OIL PRODUCTION - Oil production rose 46% year-over-year, significantly contributing to revenue increase

* LEASE OPERATING EXPENSES - Improved due to one-time non-cash adjustment and efficient operations

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $0.33 $0.32 (1

Adjusted Analyst)

EPS

Q2 EPS $0.53

Q2 Beat $12.20 $12.10

Adjusted mln mln (1

Net Analyst)

Income

Q2 Net $19.60

Income mln

Q2 Beat $22.80 $21.40

Adjusted mln mln (1

EBITDA Analyst)

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

* Wall Street's median 12-month price target for SandRidge Energy Inc ( SD ) is $19.00, about 46.4% above its August 5 closing price of $10.18

* The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)