SandRidge Permian Trust (PER) Sets New 12-Month Low at $2.51
SandRidge Permian Trust (NYSE:PER)’s share price reached a new 52-week low on Tuesday . The company traded as low as $2.51 and last traded at $2.60, with a volume of 214400 shares. The stock had previously closed at $2.60.
Separately, ValuEngine upgraded shares of SandRidge Permian Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 1st.
The firm has a market capitalization of $133.87, a PE ratio of 5.20 and a beta of 0.70.
Several hedge funds and other institutional investors have recently modified their holdings of PER. Csenge Advisory Group acquired a new stake in shares of SandRidge Permian Trust in the third quarter valued at about $394,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of SandRidge Permian Trust in the second quarter valued at about $131,000. Susquehanna International Group LLP raised its position 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 valued at $151,000 after buying an additional 31,280 shares during the last quarter. Finally, Virtu KCG Holdings LLC raised its position in shares of SandRidge Permian Trust by 92.8% in the second quarter. Virtu KCG Holdings LLC now owns 51,282 shares of the oil and gas producer’s stock valued at $149,000 after buying an additional 24,690 shares during the last quarter. Institutional investors and hedge funds own 4.24% of the company’s stock.
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.
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