The stock of SandRidge Permian Trust (NYSE:PER) is a huge mover today! About 249,492 shares traded hands or 39.30% up from the average. SandRidge Permian Trust (NYSE:PER) has risen 14.07% since April 14, 2016 and is uptrending. It has outperformed by 9.38% the S&P500.
The move comes after 7 months positive chart setup for the $160.12 million company. It was reported on Nov, 16 by Barchart.com. We have $8.33 PT which if reached, will make NYSE:PER worth $277.01M more.
According to Zacks Investment Research, “SandRidge Permian Trust is an oil and natural gas company. The Company primarily focuses on exploration, production, gas gathering and processing facilities, CO2 treating and transportation facilities and oil recovery. Sandridge has oil and natural gas properties located in the Permian Basin in Texas. It also has production in the regions of Texas, the Gulf Coast and the Gulf of Mexico. SandRidge Permian Trust is based in Austin, Texas.”
Insitutional Activity: The institutional sentiment decreased to 0.53 in Q2 2016. Its down 0.54, from 1.07 in 2016Q1. The ratio is negative, as 9 funds sold all SandRidge Permian Trust shares owned while 10 reduced positions. 2 funds bought stakes while 8 increased positions. They now own 5.14 million shares or 7.41% more from 4.79 million shares in 2016Q1.
The New York-based Evercore Wealth Mgmt Ltd Limited Liability Company has invested 0% in SandRidge Permian Trust (NYSE:PER). The Massachusetts-based And has invested 0% in SandRidge Permian Trust (NYSE:PER). Alexandria Cap Ltd Liability Com, a Virginia-based fund reported 200 shares. Raymond James Associate has 16,998 shares for 0% of their US portfolio. Renaissance Limited has invested 0% of its portfolio in SandRidge Permian Trust (NYSE:PER). Highlander Capital reported 2,760 shares or 0.01% of all its holdings. Deutsche Financial Bank Ag owns 91,671 shares or 0% of their US portfolio. Citadel Advsrs holds 0% of its portfolio in SandRidge Permian Trust (NYSE:PER) for 10,195 shares. The Texas-based Asset Management Ltd has invested 3.04% in SandRidge Permian Trust (NYSE:PER). Moreover, Cwm Lc has 0% invested in SandRidge Permian Trust (NYSE:PER) for 2,217 shares. Cetera Advisor Ntwk Ltd Limited Liability Company, a California-based fund reported 25,220 shares. Wfg Limited Partnership accumulated 0% or 100 shares. Gp One Trading L P has 11,690 shares for 0% of their US portfolio. First Midwest National Bank & Trust Division has 0% invested in the company for 11,179 shares. Credit Suisse Ag has invested 0% of its portfolio in SandRidge Permian Trust (NYSE:PER).
More notable recent SandRidge Permian Trust (NYSE:PER) news were published by: Seekingalpha.com which released: “SandRidge Permian Trust – Good Play Now Ahead Of A Likely Future Oil Spike” on November 01, 2016, also Fool.com with their article: “Here’s Why Shares of the Sandridge Permian Trust Declined More Than 25% in August” published on September 03, 2015, Marketwatch.com published: “SandRidge Permian Trust” on September 21, 2009. More interesting news about SandRidge Permian Trust (NYSE:PER) were released by: Seekingalpha.com and their article: “SandRidge Permian Trust: Risk Outweighs Potential Reward Of Higher Oil Prices” published on February 02, 2016 as well as Fool.com‘s news article titled: “Is Sandridge Permian Trust Worth a Long-Term Investment?” with publication date: June 28, 2014.
PER Company Profile
Sandridge Permian Trust (the Trust), incorporated on May 12, 2011, 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 Underlying Properties). 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. The Trust’s properties consist of Royalty Interests in the initial wells and over 860 additional wells (equivalent to over 890 trust development wells under the development agreement) that are drilled and perforated for completion. The Royalty Interests are in properties located in the greater Fuhrman-Mascho field, a field in Andrews County, Texas that produces oil primarily from the Grayburg/San Andres formation in the Permian Basin. The Permian Basin extends throughout southwestern Texas and southeastern New Mexico over an area approximately 250 miles wide and over 300 miles long.
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