SandRidge Permian Trust (NYSE:PER) Sees Significant Decrease in Short Interest

SandRidge Permian Trust (NYSE:PER) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 133,700 shares, a drop of 22.3% from the May 30th total of 172,000 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 222,300 shares, the days-to-cover ratio is presently 0.6 days.

PER traded up $0.03 during trading on Friday, reaching $1.76. 110,766 shares of the company’s stock were exchanged, compared to its average volume of 146,598. SandRidge Permian Trust has a 1 year low of $1.45 and a 1 year high of $3.00. The stock has a market capitalization of $90.82 million, a PE ratio of 3.60 and a beta of 1.22. The stock has a fifty day moving average of $1.81.

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

A hedge fund recently bought a new stake in SandRidge Permian Trust stock. M Holdings Securities Inc. purchased a new position in shares of SandRidge Permian Trust (NYSE:PER) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,200 shares of the oil and gas producer’s stock, valued at approximately $34,000. 3.33% of the stock is owned by hedge funds and other 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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