SandRidge Permian Trust (PER) Rating Lowered to Strong Sell at ValuEngine

SandRidge Permian Trust (NYSE:PER) was downgraded by ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Thursday.

Shares of PER stock traded up $0.03 during midday trading on Thursday, reaching $2.54. 378,964 shares of the stock were exchanged, compared to its average volume of 242,238. SandRidge Permian Trust has a 1 year low of $1.80 and a 1 year high of $3.00. The company has a market capitalization of $131.25 million, a price-to-earnings ratio of 5.43 and a beta of 0.95.

SandRidge Permian Trust (NYSE:PER) last posted its earnings results on Thursday, August 9th. The oil and gas producer reported $0.13 earnings per share for the quarter. SandRidge Permian Trust had a return on equity of 18.93% and a net margin of 83.44%. The firm had revenue of $7.74 million for the quarter.

A hedge fund recently bought a new stake in SandRidge Permian Trust stock. Dynamic Advisor Solutions LLC bought a new position in shares of SandRidge Permian Trust (NYSE:PER) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 58,775 shares of the oil and gas producer’s stock, valued at approximately $153,000. Dynamic Advisor Solutions LLC owned 0.11% of SandRidge Permian Trust as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 3.97% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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