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

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 1,993 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $208.09, for a total transaction of $414,723.37. Following the completion of the transaction, the director owned 89,744 shares in the company, valued at approximately $18,674,828.96. This trade represents a 2.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 Price Performance

PrimeEnergy stock opened at $208.79 on Thursday. The business has a 50 day moving average of $187.23 and a 200-day moving average of $203.05. The company has a market capitalization of $329.89 million, a P/E ratio of 20.11 and a beta of -0.27. PrimeEnergy Corporation has a 1 year low of $126.40 and a 1 year high of $278.90.

PrimeEnergy (NASDAQ:PNRG) last announced its earnings results on Friday, August 14th. The oil and natural gas company reported $2.75 earnings per share (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 for the quarter, compared to the consensus estimate of $50.40 million.

Institutional Investors Weigh In On PrimeEnergy

Several large investors have recently added to or reduced their stakes in the company. State of Wyoming raised its position in shares of PrimeEnergy by 78.7% in 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 in the last quarter. Quarry LP purchased a new position in shares of PrimeEnergy during the third quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd purchased a new position in PrimeEnergy in the 3rd quarter worth $44,000. Tower Research Capital LLC TRC lifted its stake in 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 worth $70,000 after purchasing an additional 406 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake 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 last quarter.

Analyst Upgrades and Downgrades

PNRG has been the subject of several research reports. Wall Street Zen downgraded shares of PrimeEnergy from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Freedom Capital raised shares of PrimeEnergy from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Hold rating, According to 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.