Clint Hurt Sells 1,800 Shares of PrimeEnergy (NASDAQ:PNRG) Stock

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 1,800 shares of PrimeEnergy stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $221.52, for a total transaction of $398,736.00. Following the transaction, the director directly owned 79,937 shares in the company, valued at $17,707,644.24. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, August 25th, Clint Hurt sold 8,007 shares of PrimeEnergy stock. The shares were sold at an average price of $201.29, for a total transaction of $1,611,729.03.
• On Monday, August 24th, Clint Hurt sold 1,993 shares of PrimeEnergy stock. The shares were sold at an average price of $208.09, for a total transaction of $414,723.37.

PrimeEnergy Stock Performance

Shares of PNRG stock traded up $2.00 on Friday, hitting $217.35. 74,752 shares of the company’s stock traded hands, compared to its average volume of 67,585. PrimeEnergy Corporation has a one year low of $126.40 and a one year high of $278.90. The company’s fifty day simple moving average is $191.97 and its 200 day simple moving average is $204.18. The stock has a market capitalization of $343.41 million, a price-to-earnings ratio of 20.94 and a beta of -0.24.

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

Institutional Trading of PrimeEnergy

A number of institutional investors have recently modified their holdings of the company. State of Wyoming grew its stake 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 purchasing an additional 74 shares during the last quarter. Quarry LP purchased a new position in PrimeEnergy during the 3rd quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new position in PrimeEnergy during the 3rd quarter valued at approximately $44,000. Tower Research Capital LLC TRC raised its position in PrimeEnergy by 571.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 477 shares of the oil and natural gas company’s stock valued at $70,000 after purchasing an additional 406 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in 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 worth $82,000 after buying an additional 205 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PNRG. Freedom Capital raised PrimeEnergy from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Wall Street Zen cut PrimeEnergy from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, PrimeEnergy currently has a consensus 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.