SandRidge Permian Trust (PER) Trading 3.1% Higher
SandRidge Permian Trust (NYSE:PER)’s share price shot up 3.1% on Friday . The company traded as high as $2.64 and last traded at $2.62, with a volume of 70,616 shares. The stock had previously closed at $2.54.
A number of equities analysts have recently commented on the stock. Roth Capital restated a “buy” rating on shares of SandRidge Permian Trust in a research note on Tuesday, July 12th. Canaccord Genuity restated a “buy” rating on shares of SandRidge Permian Trust in a research note on Monday, August 15th.
The company has a 50-day moving average price of $2.63 and a 200-day moving average price of $2.58. The firm has a market capitalization of $137.02 million and a P/E ratio of 3.45.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 18.60%. The ex-dividend date was 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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