Cannell Capital LLC Buys 2,968 Shares of PrimeEnergy Corporation $PNRG

Cannell Capital LLC increased its stake in shares of PrimeEnergy Corporation (NASDAQ:PNRG) by 44.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,670 shares of the oil and natural gas company’s stock after purchasing an additional 2,968 shares during the period. Cannell Capital LLC owned approximately 0.59% of PrimeEnergy worth $1,615,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNRG. JPMorgan Chase & Co. boosted its holdings in PrimeEnergy by 6,756.6% in the third quarter. JPMorgan Chase & Co. now owns 17,210 shares of the oil and natural gas company’s stock worth $2,875,000 after purchasing an additional 16,959 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in PrimeEnergy during the 2nd quarter valued at $1,894,000. Vanguard Group Inc. lifted its holdings in shares of PrimeEnergy by 60.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,258 shares of the oil and natural gas company’s stock valued at $4,219,000 after buying an additional 9,522 shares during the period. Marex Group plc purchased a new position in shares of PrimeEnergy in the 2nd quarter worth $1,317,000. Finally, Quantbot Technologies LP boosted its stake in shares of PrimeEnergy by 51,768.8% in the 2nd quarter. Quantbot Technologies LP now owns 8,299 shares of the oil and natural gas company’s stock worth $1,215,000 after buying an additional 8,283 shares during the last quarter.

Wall Street Analyst Weigh In

PNRG has been the subject of several research analyst reports. Wall Street Zen raised PrimeEnergy from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of PrimeEnergy in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, PrimeEnergy currently has an average rating of “Hold”.

Insiders Place Their Bets

In other PrimeEnergy news, Director Clint Hurt sold 8,936 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $191.58, for a total value of $1,711,958.88. Following the completion of the sale, the director owned 105,763 shares in the company, valued at $20,262,075.54. This represents a 7.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Rothschild Robert De sold 10,151 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $186.19, for a total value of $1,890,014.69. Following the completion of the transaction, the insider directly owned 211,906 shares in the company, valued at $39,454,778.14. This trade represents a 4.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 40,000 shares of company stock worth $7,427,626. 62.77% of the stock is owned by insiders.

PrimeEnergy Trading Down 3.0%

PNRG opened at $205.66 on Friday. The firm’s 50 day simple moving average is $184.34 and its two-hundred day simple moving average is $169.76. The company has a market capitalization of $335.23 million, a PE ratio of 19.68 and a beta of -0.08. PrimeEnergy Corporation has a 1-year low of $126.40 and a 1-year high of $238.20.

About PrimeEnergy

PrimeEnergy Resources Corporation, through its subsidiaries, engages in acquisition, development, and production of oil and natural gas properties in the United States. The company owns leasehold, mineral, and royalty interests in producing and non-producing oil and gas properties; and operates approximately 534 active wells and owns non-operating interests and royalties in 952 additional wells. It also acquires producing oil and gas properties through joint ventures with industry partners; and provides contract services to third parties, including well-servicing support, site-preparation, and construction services for oil and gas drilling and reworking operations.