PrimeEnergy (NASDAQ:PNRG) Director Sells $2,309,200.00 in Stock

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $230.92, for a total transaction of $2,309,200.00. Following the completion of the transaction, the director directly owned 93,737 shares of the company’s stock, valued at approximately $21,645,748.04. The trade was a 9.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Friday, February 6th, Clint Hurt sold 8,936 shares of PrimeEnergy stock. The shares were sold at an average price of $191.58, for a total transaction of $1,711,958.88.
• On Thursday, February 5th, Clint Hurt sold 1,064 shares of PrimeEnergy stock. The shares were sold at an average price of $190.02, for a total transaction of $202,181.28.

PrimeEnergy Trading Down 4.7%

NASDAQ:PNRG traded down $10.79 during mid-day trading on Monday, hitting $219.21. The stock had a trading volume of 69,629 shares, compared to its average volume of 63,575. The stock has a 50-day simple moving average of $210.48 and a two-hundred day simple moving average of $182.10. The company has a market capitalization of $355.12 million, a PE ratio of 20.19 and a beta of -0.18. PrimeEnergy Corporation has a twelve month low of $126.40 and a twelve month high of $249.50.

PrimeEnergy (NASDAQ:PNRG) last issued its earnings results on Thursday, April 16th. The oil and natural gas company reported $1.43 earnings per share for the quarter. The firm had revenue of $50.06 million for the quarter. PrimeEnergy had a net margin of 13.92% and a return on equity of 12.53%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PrimeEnergy in a report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, PrimeEnergy has an average rating of “Hold”.

Institutional Trading of PrimeEnergy

Several hedge funds have recently added to or reduced their stakes in PNRG. Dimensional Fund Advisors LP increased its stake in PrimeEnergy by 9.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 71,970 shares of the oil and natural gas company’s stock valued at $12,308,000 after purchasing an additional 6,487 shares during the last quarter. Millennium Management LLC increased its stake in PrimeEnergy by 143.1% in the third quarter. Millennium Management LLC now owns 52,180 shares of the oil and natural gas company’s stock valued at $8,716,000 after purchasing an additional 30,718 shares during the last quarter. BNP Paribas Financial Markets increased its stake in PrimeEnergy by 690.7% in the fourth quarter. BNP Paribas Financial Markets now owns 36,546 shares of the oil and natural gas company’s stock valued at $6,249,000 after purchasing an additional 31,924 shares during the last quarter. Vanguard Group Inc. increased its stake in PrimeEnergy by 60.5% in the third quarter. Vanguard Group Inc. now owns 25,258 shares of the oil and natural gas company’s stock valued at $4,219,000 after purchasing an additional 9,522 shares during the last quarter. Finally, Invesco Ltd. increased its stake in PrimeEnergy by 537.6% in the fourth quarter. Invesco Ltd. now owns 19,950 shares of the oil and natural gas company’s stock valued at $3,411,000 after purchasing an additional 16,821 shares during the last quarter.

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.