Shares of SandRidge Permian Trust (NYSE:PER) dropped 3% during mid-day trading on Wednesday . The stock traded as low as $2.56 and last traded at $2.58, with a volume of 144,662 shares. The stock had previously closed at $2.66.

PER has been the subject of several recent analyst reports. Canaccord Genuity reiterated 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 research note on Tuesday, July 12th.

The firm has a market capitalization of $135.45 million and a PE ratio of 3.41. The firm’s 50 day moving average is $2.63 and its 200 day moving average is $2.58.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This is a positive change from SandRidge Permian Trust’s previous quarterly dividend of $0.09. This represents a $0.48 dividend on an annualized basis and a dividend yield of 18.68%.

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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