Insider Selling: PrimeEnergy (NASDAQ:PNRG) Major Shareholder Sells $1,818,100.00 in Stock

PrimeEnergy Corporation (NASDAQ:PNRG) major shareholder Rothschild Robert De sold 10,000 shares of PrimeEnergy stock in a transaction on Friday, January 30th. The shares were sold at an average price of $181.81, for a total transaction of $1,818,100.00. Following the transaction, the insider owned 201,906 shares in the company, valued at approximately $36,708,529.86. This trade represents a 4.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Rothschild Robert De also recently made the following trade(s):

• On Thursday, January 29th, Rothschild Robert De sold 10,151 shares of PrimeEnergy stock. The shares were sold at an average price of $186.19, for a total value of $1,890,014.69.
• On Tuesday, January 13th, Rothschild Robert De sold 8,700 shares of PrimeEnergy stock. The shares were sold at an average price of $182.85, for a total value of $1,590,795.00.

PrimeEnergy Trading Up 5.4%

NASDAQ:PNRG opened at $191.00 on Thursday. The stock has a 50-day moving average price of $176.92 and a 200 day moving average price of $164.44. The stock has a market capitalization of $311.33 million, a P/E ratio of 18.28 and a beta of -0.03. PrimeEnergy Corporation has a 12-month low of $126.40 and a 12-month high of $238.20.

PrimeEnergy (NASDAQ:PNRG) last posted its quarterly earnings results on Wednesday, November 19th. The oil and natural gas company reported $4.38 EPS for the quarter. PrimeEnergy had a return on equity of 12.19% and a net margin of 12.69%.The company had revenue of $44.66 million for the quarter.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of PrimeEnergy from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PrimeEnergy in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Hedge Funds Weigh In On PrimeEnergy

A number of institutional investors and hedge funds have recently made changes to their positions in PNRG. Quarry LP bought a new stake in shares of PrimeEnergy in the 3rd quarter worth about $38,000. Caitong International Asset Management Co. Ltd purchased a new position in PrimeEnergy in the third quarter worth about $44,000. Flagship Harbor Advisors LLC bought a new stake in PrimeEnergy during the fourth quarter worth approximately $52,000. State of Wyoming increased its stake in PrimeEnergy by 62.7% during the second quarter. State of Wyoming now owns 423 shares of the oil and natural gas company’s stock worth $62,000 after acquiring an additional 163 shares during the last quarter. Finally, CWM LLC raised its position in PrimeEnergy by 673.6% during the third quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock valued at $68,000 after purchasing an additional 357 shares during the period.

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.