SandRidge Permian Trust (NYSE:PER) Shares Cross Below 200 Day Moving Average of $1.42

SandRidge Permian Trust (NYSE:PER)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.42 and traded as low as $0.91. SandRidge Permian Trust shares last traded at $0.91, with a volume of 1,095 shares traded.

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

The stock has a 50-day moving average of $0.90 and a two-hundred day moving average of $1.42. The company has a market cap of $47.95 million, a P/E ratio of 2.42 and a beta of 1.04.

SandRidge Permian Trust (NYSE:PER) last released its earnings results on Thursday, November 7th. The oil and gas producer reported $0.09 earnings per share for the quarter. The company had revenue of $6.07 million during the quarter. SandRidge Permian Trust had a return on equity of 17.37% and a net margin of 79.69%.

An institutional investor recently raised its position in SandRidge Permian Trust stock. Russell Investments Group Ltd. increased its position in SandRidge Permian Trust (NYSE:PER) by 1,672.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC). 1.24% 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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