Insider Selling: Sandridge Energy Inc Unloads 1,050,000 Shares of SandRidge Permian Trust Stock (PER)
SandRidge Permian Trust (NYSE:PER) major shareholder Sandridge Energy Inc sold 1,050,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $13.75, for a total value of $14,437,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Separately, analysts at Raymond James downgraded shares of SandRidge Permian Trust (NYSE:PER) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday, July 29th.
SandRidge Permian Trust (NYSE:PER) opened at 14.43 on Tuesday. SandRidge Permian Trust has a one year low of $13.42 and a one year high of $20.95. The stock has a 50-day moving average of $15.03 and a 200-day moving average of $14.78. The company has a market cap of $757.6 million and a P/E ratio of 6.31.
SandRidge Permian Trust (NYSE:PER) is a trust formed by SandRidge Energy, Inc (SandRidge) to own royalty interests in 509 developed oil and natural gas wells located in Andrews County, Texas (the Producing Wells), and 888 oil and natural gas development wells to be drilled (the Development Wells) within an Area of Mutual Interest (AMI).
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