PrimeEnergy Corporation (NASDAQ:PNRG) Short Interest Down 34.8% in December

PrimeEnergy Corporation (NASDAQ:PNRG) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 48,325 shares, a decrease of 34.8% from the November 30th total of 74,139 shares. Based on an average daily volume of 44,619 shares, the days-to-cover ratio is currently 1.1 days. Approximately 7.9% of the company’s stock are short sold. Approximately 7.9% of the company’s stock are short sold. Based on an average daily volume of 44,619 shares, the days-to-cover ratio is currently 1.1 days.

Insider Transactions at PrimeEnergy

In other news, Director Clint Hurt sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $190.20, for a total transaction of $951,000.00. Following the sale, the director owned 120,763 shares in the company, valued at approximately $22,969,122.60. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 10,000 shares of company stock valued at $1,901,536 over the last 90 days. 62.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PrimeEnergy

Several large investors have recently made changes to their positions in PNRG. Strs Ohio purchased a new position in shares of PrimeEnergy during the first quarter worth $501,000. Aviva PLC purchased a new stake in shares of PrimeEnergy in the 2nd quarter valued at $281,000. Marex Group plc acquired a new position in PrimeEnergy during the 2nd quarter worth about $1,317,000. Wittenberg Investment Management Inc. acquired a new position in PrimeEnergy during the 2nd quarter worth about $439,000. Finally, Magnetar Financial LLC purchased a new position in PrimeEnergy during the 2nd quarter valued at about $298,000.

PrimeEnergy Stock Down 0.9%

NASDAQ:PNRG traded down $1.54 on Tuesday, reaching $176.39. The company’s stock had a trading volume of 46,434 shares, compared to its average volume of 63,432. PrimeEnergy has a 12-month low of $126.40 and a 12-month high of $239.87. The stock has a 50 day moving average price of $160.66 and a 200 day moving average price of $160.41. The firm has a market cap of $288.40 million, a price-to-earnings ratio of 16.88 and a beta of -0.08.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of PrimeEnergy from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a research note on Monday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

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.