SandRidge Permian Trust (PER) Stock Price Down 5.9%

SandRidge Permian Trust (NYSE:PER) shares dropped 5.9% during mid-day trading on Thursday . The company traded as low as $2.30 and last traded at $2.40. Approximately 623,919 shares changed hands during trading, an increase of 244% from the average daily volume of 181,177 shares. The stock had previously closed at $2.55.

Separately, ValuEngine raised SandRidge Permian Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 1st.

The firm has a market capitalization of $126.00, a P/E ratio of 4.80 and a beta of 0.70.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Stockholders of record on Friday, November 10th were paid a dividend of $0.095 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 16.89%. SandRidge Permian Trust’s dividend payout ratio (DPR) is currently 76.00%.

Institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of SandRidge Permian Trust during the second quarter worth about $131,000. Virtu KCG Holdings LLC boosted its holdings in shares of SandRidge Permian Trust by 92.8% during the second quarter. Virtu KCG Holdings LLC now owns 51,282 shares of the oil and gas producer’s stock worth $149,000 after purchasing an additional 24,690 shares during the period. Susquehanna International Group LLP boosted its holdings in shares of SandRidge Permian Trust by 144.3% during the third quarter. Susquehanna International Group LLP now owns 52,964 shares of the oil and gas producer’s stock worth $151,000 after purchasing an additional 31,280 shares during the period. Finally, Csenge Advisory Group purchased a new stake in shares of SandRidge Permian Trust during the third quarter worth about $394,000. Institutional investors own 4.24% of the company’s stock.

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SandRidge Permian Trust Company Profile

Sandridge Permian Trust (the Trust) is a statutory trust. The Trust holds Royalty Interests in specified oil and natural gas properties in the Permian Basin located in Andrews County, Texas. The Trust’s business activities are generally limited to owning the Royalty Interests, and entering into hedging arrangements at the inception of the Trust and activities related thereto, including activities required or permitted by the terms of the conveyances related to the Royalty Interests.

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