SandRidge Permian Trust (PER) Shares Down 1.4%
SandRidge Permian Trust (NYSE:PER) shares fell 1.4% during trading on Thursday . The stock traded as low as $2.74 and last traded at $2.75, with a volume of 135,306 shares. The stock had previously closed at $2.79.
Several research firms have recently commented on PER. Canaccord Genuity reiterated a “buy” rating on shares of SandRidge Permian Trust in a report on Monday. Roth Capital reiterated a “buy” rating on shares of SandRidge Permian Trust in a report on Tuesday, July 12th.
The stock has a 50 day moving average price of $2.60 and a 200 day moving average price of $2.57. The firm has a market capitalization of $142.80 million and a PE ratio of 3.60.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 17.65%. This is a positive change from SandRidge Permian Trust’s previous quarterly dividend of $0.09. The ex-dividend date is Wednesday, August 10th.
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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