The latest reported quarterly results by SandRidge Permian Trust (PER) showed continued steady performance. On October 24th PER announced its quarterly distribution for production during the time period from June through August 2013. During the summer the energy market showed relatively high oil prices throughout that benefited the Permian Trust which has 85% its production in crude oil. Since the spring when there was a very wide spread between WTI and WTS crude oil, the Trust's distributable income has substantially improved as the differential narrowed to a more favorable relative relationship.
Upon the announcement of earnings and the quarterly distribution, the stock responded negatively, trading down from over $15 per unit to a trading range below $14.50. The...
Only subscribers can access this article, which is part of the PRO research library covering 3,577 different stocks.
Growing numbers of fund managers and other investment professionals subscribe to Seeking Alpha PRO for equity research that is unavailable elsewhere, so they can: