PrimeEnergy (NASDAQ:PNRG) Releases Quarterly Earnings Results

PrimeEnergy (NASDAQ:PNRG) announced its quarterly earnings results on Wednesday. The oil and natural gas company reported $4.38 EPS for the quarter, Zacks reports. PrimeEnergy had a net margin of 16.54% and a return on equity of 17.98%.

PrimeEnergy Price Performance

Shares of NASDAQ:PNRG traded down $2.10 on Wednesday, hitting $142.40. The company’s stock had a trading volume of 45,886 shares, compared to its average volume of 65,170. The company has a market capitalization of $234.82 million, a PE ratio of 9.58 and a beta of 0.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.60 and a quick ratio of 0.60. The company has a 50-day simple moving average of $155.49 and a 200 day simple moving average of $160.40. PrimeEnergy has a 1 year low of $126.40 and a 1 year high of $243.49.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PNRG shares. Wall Street Zen cut shares of PrimeEnergy from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of PrimeEnergy in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, PrimeEnergy currently has an average rating of “Hold”.

Institutional Investors Weigh In On PrimeEnergy

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in shares of PrimeEnergy by 5,902.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,622 shares of the oil and natural gas company’s stock worth $772,000 after acquiring an additional 4,545 shares during the last quarter. First Trust Advisors LP raised its position in PrimeEnergy by 294.6% during the third quarter. First Trust Advisors LP now owns 8,448 shares of the oil and natural gas company’s stock valued at $1,411,000 after purchasing an additional 6,307 shares in the last quarter. Cannell Capital LLC raised its position in PrimeEnergy by 10.7% during the second quarter. Cannell Capital LLC now owns 6,702 shares of the oil and natural gas company’s stock valued at $981,000 after purchasing an additional 649 shares in the last quarter. Engineers Gate Manager LP bought a new stake in PrimeEnergy during the second quarter worth about $749,000. Finally, Jane Street Group LLC purchased a new position in shares of PrimeEnergy in the 2nd quarter worth about $307,000.

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.