SandRidge Permian Trust (NYSE:PER) Short Interest Update

SandRidge Permian Trust (NYSE:PER) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totalling 206,400 shares, a growth of 51.1% from the July 31st total of 136,600 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 185,000 shares, the days-to-cover ratio is presently 1.1 days.

An institutional investor recently raised its position in SandRidge Permian Trust stock. Russell Investments Group Ltd. increased its position in shares of SandRidge Permian Trust (NYSE:PER) by 1,672.2% in the 2nd quarter, according to the company in its most recent Form 13F 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 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 1.37% of the company’s stock.

Shares of PER stock remained flat at $$1.59 during trading on Wednesday. 80,887 shares of the company traded hands, compared to its average volume of 171,359. The company has a market capitalization of $83.48 million, a price-to-earnings ratio of 3.88 and a beta of 1.29. The business’s fifty day moving average is $1.70 and its 200-day moving average is $2.00. SandRidge Permian Trust has a twelve month low of $1.45 and a twelve month high of $2.85.

SandRidge Permian Trust (NYSE:PER) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported $0.07 EPS for the quarter. The firm had revenue of $4.90 million for the quarter. SandRidge Permian Trust had a net margin of 81.90% and a return on equity of 18.84%.

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.089 per share. This is a boost from SandRidge Permian Trust’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a dividend yield of 22.42%. The ex-dividend date of this dividend was Thursday, August 8th.

About SandRidge Permian Trust

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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