ValuEngine downgraded shares of SandRidge Permian Trust (NYSE:PER) from a buy rating to a hold rating in a report published on Wednesday morning.
SandRidge Permian Trust (NYSE:PER) opened at $2.00 on Wednesday. SandRidge Permian Trust has a twelve month low of $1.95 and a twelve month high of $3.30. The firm has a market capitalization of $105.00, a price-to-earnings ratio of 4.00 and a beta of 0.83.
SandRidge Permian Trust (NYSE:PER) last issued its quarterly earnings results on Thursday, March 15th. The oil and gas producer reported $0.10 earnings per share for the quarter. SandRidge Permian Trust had a return on equity of 19.59% and a net margin of 88.09%.
Several large investors have recently modified their holdings of PER. Susquehanna International Group LLP increased its holdings in shares of SandRidge Permian Trust by 144.3% during the third quarter. Susquehanna International Group LLP now owns 52,964 shares of the oil and gas producer’s stock valued at $151,000 after acquiring an additional 31,280 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of SandRidge Permian Trust during the fourth quarter valued at $163,000. Virtu Financial LLC increased its holdings in shares of SandRidge Permian Trust by 437.9% during the fourth quarter. Virtu Financial LLC now owns 151,279 shares of the oil and gas producer’s stock valued at $311,000 after acquiring an additional 123,153 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of SandRidge Permian Trust during the fourth quarter valued at $713,000. Finally, Deutsche Bank AG bought a new position in shares of SandRidge Permian Trust during the fourth quarter valued at $739,000. Hedge funds and other institutional investors own 6.19% of the company’s stock.
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SandRidge Permian Trust Company Profile
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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