Insider Selling: PrimeEnergy (NASDAQ:PNRG) Director Sells $440,880.00 in Stock

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 2,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $220.44, for a total transaction of $440,880.00. Following the completion of the sale, the director owned 91,737 shares in the company, valued at $20,222,504.28. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Clint Hurt also recently made the following trade(s):

• On Friday, April 24th, Clint Hurt sold 10,000 shares of PrimeEnergy stock. The stock was sold at an average price of $230.92, for a total transaction of $2,309,200.00.
• On Friday, February 6th, Clint Hurt sold 8,936 shares of PrimeEnergy stock. The shares were sold at an average price of $191.58, for a total value of $1,711,958.88.
• On Thursday, February 5th, Clint Hurt sold 1,064 shares of PrimeEnergy stock. The shares were sold at an average price of $190.02, for a total value of $202,181.28.

PrimeEnergy Price Performance

PrimeEnergy stock opened at $230.80 on Thursday. The stock has a market cap of $373.90 million, a PE ratio of 21.25 and a beta of -0.15. The stock’s fifty day moving average is $215.75 and its two-hundred day moving average is $184.77. PrimeEnergy Corporation has a 1-year low of $126.40 and a 1-year high of $249.50.

PrimeEnergy (NASDAQ:PNRG) last released its quarterly earnings data on Thursday, April 16th. The oil and natural gas company reported $1.43 EPS for the quarter. PrimeEnergy had a return on equity of 12.53% and a net margin of 13.92%.The business had revenue of $50.06 million for the quarter.

Institutional Investors Weigh In On PrimeEnergy

Several hedge funds have recently made changes to their positions in PNRG. JPMorgan Chase & Co. raised its stake in PrimeEnergy by 6,756.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,210 shares of the oil and natural gas company’s stock valued at $2,875,000 after acquiring an additional 16,959 shares during the last quarter. Principal Financial Group Inc. purchased a new position in shares of PrimeEnergy in the 3rd quarter valued at approximately $916,000. Centiva Capital LP purchased a new position in shares of PrimeEnergy in the 3rd quarter valued at approximately $523,000. SummerHaven Investment Management LLC acquired a new position in shares of PrimeEnergy in the third quarter valued at approximately $862,000. Finally, Cannell Capital LLC increased its holdings in shares of PrimeEnergy by 44.3% in the third quarter. Cannell Capital LLC now owns 9,670 shares of the oil and natural gas company’s stock valued at $1,615,000 after purchasing an additional 2,968 shares during the period.

Analyst Ratings Changes

A number of analysts have weighed in on PNRG shares. Weiss Ratings reissued a “hold (c)” rating on shares of PrimeEnergy in a report on Friday, March 27th. Wall Street Zen upgraded shares of PrimeEnergy from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, PrimeEnergy currently has a consensus rating of “Hold”.

PrimeEnergy Company Profile

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.