SandRidge Permian Trust (NYSE:PER) Sees Large Volume Increase

SandRidge Permian Trust (NYSE:PER) saw strong trading volume on Monday . 796,935 shares traded hands during trading, an increase of 359% from the previous session’s volume of 173,772 shares.The stock last traded at $1.70 and had previously closed at $1.59.

The stock has a market cap of $89.25 million, a PE ratio of 3.79 and a beta of 1.29. The stock’s 50-day moving average is $1.68 and its two-hundred day moving average is $1.98.

SandRidge Permian Trust (NYSE:PER) last released its earnings results on Thursday, August 8th. The oil and gas producer reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $4.90 million for the quarter. SandRidge Permian Trust had a net margin of 81.90% and a return on equity of 18.84%.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.089 per share. The ex-dividend date of this dividend was Thursday, August 8th. This is a positive change from SandRidge Permian Trust’s previous quarterly dividend of $0.07. This represents a $0.36 dividend on an annualized basis and a yield of 20.94%.

An institutional investor recently raised its position in SandRidge Permian Trust stock. Russell Investments Group Ltd. boosted its holdings in shares of SandRidge Permian Trust (NYSE:PER) by 1,672.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 199,695 shares of the oil and gas producer’s stock after buying 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. 1.37% 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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