SandRidge Permian Trust (PER) Trading Up 8%
SandRidge Permian Trust (NYSE:PER) was up 8% during trading on Tuesday . The company traded as high as $2.75 and last traded at $2.71, with a volume of 127,847 shares. The stock had previously closed at $2.51.
A number of equities research analysts recently commented on PER shares. Canaccord Genuity reaffirmed a “buy” rating on shares of SandRidge Permian Trust in a research note on Monday, August 15th. Roth Capital reiterated a “buy” rating on shares of SandRidge Permian Trust in a report on Tuesday, July 12th.
The firm has a market cap of $139.65 million and a PE ratio of 3.52. The firm has a 50-day moving average of $2.60 and a 200-day moving average of $2.57.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 17.98%. The ex-dividend date of this dividend is Wednesday, August 10th. This is a boost from SandRidge Permian Trust’s previous quarterly dividend of $0.09.
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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