SandRidge Permian Trust (NYSE:PER) Share Price Passes Below 200 Day Moving Average of $1.28

SandRidge Permian Trust (NYSE:PER) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.28 and traded as low as $0.87. SandRidge Permian Trust shares last traded at $0.89, with a volume of 190,400 shares.

Separately, ValuEngine upgraded shares of SandRidge Permian Trust from a “sell” rating to a “hold” rating in a research note on Friday, January 10th.

The company has a market cap of $46.59 million, a P/E ratio of 2.34 and a beta of 1.15. The business’s 50 day simple moving average is $0.95 and its 200 day simple moving average is $1.28.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.08 per share. This is a boost from SandRidge Permian Trust’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, February 13th. This represents a $0.32 dividend on an annualized basis and a yield of 35.96%.

An institutional investor recently raised its position in SandRidge Permian Trust stock. UBS Group AG raised its stake in shares of SandRidge Permian Trust (NYSE:PER) by 833.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,144 shares of the oil and gas producer’s stock after buying an additional 28,700 shares during the quarter. UBS Group AG owned about 0.06% of SandRidge Permian Trust worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 1.21% of the stock is owned by institutional investors.

SandRidge Permian Trust Company Profile (NYSE:PER)

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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