PrimeEnergy (NASDAQ:PNRG) Director Sells 8,936 Shares

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 8,936 shares of the firm’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 transaction, the director owned 105,763 shares in the company, valued at approximately $20,262,075.54. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, February 5th, Clint Hurt sold 1,064 shares of PrimeEnergy stock. The stock was sold at an average price of $190.02, for a total transaction of $202,181.28.
• On Thursday, December 11th, Clint Hurt sold 1,285 shares of PrimeEnergy stock. The shares were sold at an average price of $190.07, for a total transaction of $244,239.95.
• On Wednesday, December 10th, Clint Hurt sold 3,715 shares of PrimeEnergy stock. The stock was sold at an average price of $190.12, for a total value of $706,295.80.
• On Tuesday, December 9th, Clint Hurt sold 5,000 shares of PrimeEnergy stock. The shares were sold at an average price of $190.20, for a total value of $951,000.00.

PrimeEnergy Price Performance

NASDAQ PNRG traded down $0.06 on Monday, reaching $192.97. The company had a trading volume of 47,880 shares, compared to its average volume of 57,345. PrimeEnergy Corporation has a 1 year low of $126.40 and a 1 year high of $238.20. The firm has a 50-day moving average of $177.49 and a 200-day moving average of $164.79. The firm has a market capitalization of $314.54 million, a PE ratio of 18.47 and a beta of -0.03.

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

Hedge Funds Weigh In On PrimeEnergy

A number of hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its position in PrimeEnergy by 286.2% in the 1st quarter. AQR Capital Management LLC now owns 6,897 shares of the oil and natural gas company’s stock valued at $1,572,000 after buying an additional 5,111 shares during the last quarter. Empowered Funds LLC boosted its holdings in PrimeEnergy by 6.7% in the first quarter. Empowered Funds LLC now owns 8,649 shares of the oil and natural gas company’s stock valued at $1,971,000 after acquiring an additional 541 shares during the last quarter. Aviva PLC acquired a new stake in PrimeEnergy in the second quarter worth about $281,000. Wittenberg Investment Management Inc. bought a new stake in PrimeEnergy during the 2nd quarter worth about $439,000. Finally, Magnetar Financial LLC acquired a new position in PrimeEnergy during the 2nd quarter valued at about $298,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of PrimeEnergy in a report on Monday, December 29th. Wall Street Zen raised PrimeEnergy from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock 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.