SandRidge Permian Trust (NYSE:PER) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.90 and traded as high as $1.66. SandRidge Permian Trust shares last traded at $1.64, with a volume of 621 shares trading hands.
Separately, ValuEngine upgraded shares of SandRidge Permian Trust from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd.
The firm’s 50-day moving average is $1.63 and its 200-day moving average is $1.90. The company has a market cap of $85.05 million, a PE ratio of 3.86 and a beta of 1.26.
A hedge fund recently raised its stake in SandRidge Permian Trust stock. Russell Investments Group Ltd. lifted its stake in shares of SandRidge Permian Trust (NYSE:PER) by 1,672.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 199,695 shares of the oil and gas producer’s stock after buying an additional 188,427 shares during the quarter. Russell Investments Group Ltd. owned about 0.38% of SandRidge Permian Trust worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 1.36% of the company’s stock.
About SandRidge Permian Trust (NYSE:PER)
SandRidge Permian Trust holds royalty interests in specified oil and natural gas properties in the Permian Basin located in Andrews County, Texas. It has proved developed reserves of approximately 0.3 million barrels of oil equivalent. The company was founded in 2011 and is based in Houston, Texas.
Further Reading: Mutual Funds
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