SandRidge Permian Trust (NYSE:PER) Short Interest Update

SandRidge Permian Trust (NYSE:PER) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 110,900 shares, a decrease of 33.1% from the September 30th total of 165,700 shares. Based on an average trading volume of 129,100 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.3% of the shares of the stock are short sold.

SandRidge Permian Trust stock traded down $0.23 during mid-day trading on Thursday, hitting $1.23. 704,331 shares of the company were exchanged, compared to its average volume of 166,594. The business has a fifty day moving average of $1.63 and a 200 day moving average of $1.78. SandRidge Permian Trust has a 1-year low of $1.22 and a 1-year high of $2.55. The company has a market capitalization of $76.65 million, a PE ratio of 4.11 and a beta of 1.25.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.073 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.29 annualized dividend and a yield of 23.74%.

Separately, ValuEngine upgraded SandRidge Permian Trust from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd.

An institutional investor recently raised its position in SandRidge Permian Trust stock. Russell Investments Group Ltd. boosted its stake in shares of SandRidge Permian Trust (NYSE:PER) by 1,672.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,695 shares of the oil and gas producer’s stock after acquiring an additional 188,427 shares during the quarter. Russell Investments Group Ltd. owned 0.38% of SandRidge Permian Trust worth $363,000 as of its most recent SEC filing. 1.35% of the stock is owned by institutional investors and hedge funds.

SandRidge Permian Trust Company Profile

SandRidge Permian Trust holds royalty interests in specified oil and natural gas properties in the Permian Basin located in Andrews County, Texas. It has proved developed reserves of approximately 0.3 million barrels of oil equivalent. The company was founded in 2011 and is based in Houston, Texas.

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