Short Interest in SandRidge Permian Trust (NYSE:PER) Rises By 43.6%

SandRidge Permian Trust (NYSE:PER) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 136,600 shares, an increase of 43.6% from the June 30th total of 95,100 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 192,400 shares, the days-to-cover ratio is currently 0.7 days.

SandRidge Permian Trust stock traded down $0.07 during midday trading on Monday, hitting $1.64. 134,300 shares of the company’s stock were exchanged, compared to its average volume of 178,027. SandRidge Permian Trust has a 52-week low of $1.45 and a 52-week high of $2.85. The stock’s 50-day moving average price is $1.79. The firm has a market capitalization of $89.78 million, a P/E ratio of 3.56 and a beta of 1.23.

SandRidge Permian Trust (NYSE:PER) last posted its earnings results on Thursday, May 9th. The oil and gas producer reported $0.10 EPS for the quarter. SandRidge Permian Trust had a return on equity of 20.80% and a net margin of 83.50%. The business had revenue of $6.26 million during the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a dividend of $0.089 per share. This represents a $0.36 annualized dividend and a yield of 21.71%. This is a boost from SandRidge Permian Trust’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, August 8th.

A hedge fund recently raised its stake in SandRidge Permian Trust stock. Russell Investments Group Ltd. raised its holdings in shares of SandRidge Permian Trust (NYSE:PER) by 1,672.2% in the 2nd quarter, according to the company in its most recent disclosure 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 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 & Exchange Commission. 3.06% of the stock is owned by institutional investors.

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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