Clint Hurt Sells 1,993 Shares of PrimeEnergy (NASDAQ:PNRG) Stock

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 1,993 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $208.09, for a total transaction of $414,723.37. Following the sale, the director directly owned 89,744 shares in the company, valued at $18,674,828.96. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, August 25th, Clint Hurt sold 8,007 shares of PrimeEnergy stock. The stock was sold at an average price of $201.29, for a total value of $1,611,729.03.

PrimeEnergy Trading Up 0.8%

Shares of NASDAQ PNRG opened at $210.49 on Friday. The company has a 50 day simple moving average of $187.93 and a two-hundred day simple moving average of $203.17. The stock has a market cap of $332.57 million, a price-to-earnings ratio of 20.28 and a beta of -0.27. PrimeEnergy Corporation has a 12 month low of $126.40 and a 12 month high of $278.90.

PrimeEnergy (NASDAQ:PNRG) last released its quarterly earnings data on Friday, August 14th. The oil and natural gas company reported $2.75 EPS for the quarter, missing the consensus estimate of $5.90 by ($3.15). PrimeEnergy had a return on equity of 11.47% and a net margin of 13.87%.The company had revenue of $50.40 million during the quarter, compared to analysts’ expectations of $50.40 million.

Hedge Funds Weigh In On PrimeEnergy

Several institutional investors have recently bought and sold shares of the company. State of Wyoming lifted its position in shares of PrimeEnergy by 78.7% during the fourth quarter. State of Wyoming now owns 168 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 74 shares in the last quarter. Quarry LP purchased a new position in shares of PrimeEnergy in the third quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of PrimeEnergy in the third quarter valued at approximately $44,000. Tower Research Capital LLC TRC grew its holdings in shares of PrimeEnergy by 571.8% in the second quarter. Tower Research Capital LLC TRC now owns 477 shares of the oil and natural gas company’s stock valued at $70,000 after purchasing an additional 406 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in PrimeEnergy by 74.8% during the 4th quarter. Wells Fargo & Company MN now owns 479 shares of the oil and natural gas company’s stock worth $82,000 after buying an additional 205 shares during the period.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PNRG. Freedom Capital upgraded PrimeEnergy from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Weiss Ratings restated a “hold (c)” rating on shares of PrimeEnergy in a report on Wednesday, June 24th. Finally, Wall Street Zen downgraded PrimeEnergy from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

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.