SandRidge Permian Trust (NYSE:PER) Short Interest Up 51.1% in August

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

Shares of PER remained flat at $$1.59 during trading hours on Friday. 57,095 shares of the company were exchanged, compared to its average volume of 170,251. SandRidge Permian Trust has a 1-year low of $1.45 and a 1-year high of $2.85. The company’s 50 day moving average is $1.70 and its 200-day moving average is $2.00. The company has a market cap of $83.32 million, a P/E ratio of 3.79 and a beta of 1.29.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.089 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 22.39%. This is a boost from SandRidge Permian Trust’s previous quarterly dividend of $0.07.

An institutional investor recently raised its position in SandRidge Permian Trust stock. Russell Investments Group Ltd. lifted its position in SandRidge Permian Trust (NYSE:PER) by 1,672.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,695 shares of the oil and gas producer’s stock after buying 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 SEC filing. Institutional investors and hedge funds own 1.37% of the company’s stock.

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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