Insider Selling: PrimeEnergy (NASDAQ:PNRG) Director Sells 8,007 Shares of Stock

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 8,007 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $201.29, for a total value of $1,611,729.03. Following the completion of the sale, the director owned 81,737 shares of the company’s stock, valued at $16,452,840.73. This trade represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, August 24th, Clint Hurt sold 1,993 shares of PrimeEnergy stock. The shares were sold at an average price of $208.09, for a total transaction of $414,723.37.

PrimeEnergy Stock Up 0.8%

Shares of NASDAQ PNRG traded up $1.68 during trading on Wednesday, hitting $208.79. The company had a trading volume of 122,236 shares, compared to its average volume of 65,309. The firm has a market capitalization of $330.51 million, a price-to-earnings ratio of 20.11 and a beta of -0.27. The stock has a fifty day simple moving average of $186.60 and a two-hundred day simple moving average of $202.92. PrimeEnergy Corporation has a fifty-two week low of $126.40 and a fifty-two week high of $278.90.

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

Hedge Funds Weigh In On PrimeEnergy

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Freedom Capital raised PrimeEnergy from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Wall Street Zen lowered shares of PrimeEnergy from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock 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.