SandRidge Permian Trust (NYSE:PER) Short Interest Update

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SandRidge Permian Trust (NYSE:PER) was the target of a significant increase in short interest during the month of November. As of November 29th, there was short interest totalling 424,200 shares, an increase of 226.8% from the November 14th total of 129,800 shares. Based on an average daily trading volume, of 231,800 shares, the short-interest ratio is presently 1.8 days. Approximately 1.1% of the company’s stock are short sold.

A hedge fund recently raised its stake in SandRidge Permian Trust stock. Russell Investments Group Ltd. lifted its position in shares of SandRidge Permian Trust (NYSE:PER) by 1,672.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,695 shares of the oil and gas producer’s stock after acquiring an additional 188,427 shares during the period. Russell Investments Group Ltd. owned about 0.38% of SandRidge Permian Trust worth $363,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.24% of the company’s stock.

NYSE:PER traded down $0.02 during trading hours on Wednesday, reaching $0.86. 168,580 shares of the stock were exchanged, compared to its average volume of 188,361. The stock has a market capitalization of $46.31 million, a P/E ratio of 2.35 and a beta of 1.14. The firm has a 50 day simple moving average of $1.28 and a 200-day simple moving average of $1.62. SandRidge Permian Trust has a 52 week low of $0.80 and a 52 week high of $2.55.

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were issued a $0.073 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 33.95%.

Separately, ValuEngine raised shares of SandRidge Permian Trust from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd.

SandRidge Permian Trust Company Profile

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.

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