ValuEngine Upgrades SandRidge Permian Trust (PER) to Buy

SandRidge Permian Trust (NYSE:PER) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Friday.

SandRidge Permian Trust (NYSE PER) opened at $1.95 on Friday. The stock has a market cap of $102.38, a price-to-earnings ratio of 4.15 and a beta of 0.83. SandRidge Permian Trust has a fifty-two week low of $1.90 and a fifty-two week high of $3.30.

SandRidge Permian Trust (NYSE:PER) last posted its quarterly earnings results on Thursday, March 15th. The oil and gas producer reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $6.52 million during the quarter. SandRidge Permian Trust had a net margin of 84.52% and a return on equity of 18.56%.

Several large investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP increased its stake in shares of SandRidge Permian Trust by 144.3% in the third quarter. Susquehanna International Group LLP now owns 52,964 shares of the oil and gas producer’s stock worth $151,000 after acquiring an additional 31,280 shares during the period. Two Sigma Securities LLC acquired a new stake in shares of SandRidge Permian Trust in the fourth quarter worth $163,000. Virtu Financial LLC increased its stake in shares of SandRidge Permian Trust by 437.9% in the fourth quarter. Virtu Financial LLC now owns 151,279 shares of the oil and gas producer’s stock worth $311,000 after acquiring an additional 123,153 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of SandRidge Permian Trust in the fourth quarter worth $713,000. Finally, Deutsche Bank AG acquired a new stake in shares of SandRidge Permian Trust in the fourth quarter worth $739,000. Hedge funds and other institutional investors own 6.19% of the company’s stock.

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About SandRidge Permian Trust

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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