PrimeEnergy (NASDAQ:PNRG) Director Clint Hurt Sells 8,007 Shares of Stock

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 8,007 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $201.29, for a total transaction of $1,611,729.03. Following the sale, the director owned 81,737 shares of the company’s stock, valued at $16,452,840.73. This trade represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 value of $414,723.37.

PrimeEnergy Stock Performance

PrimeEnergy stock opened at $208.79 on Thursday. The business’s 50-day simple moving average is $187.23 and its 200-day simple moving average is $203.05. The firm has a market capitalization of $329.89 million, a PE ratio of 20.11 and a beta of -0.27. PrimeEnergy Corporation has a 52 week low of $126.40 and a 52 week 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 for the quarter, missing the consensus estimate of $5.90 by ($3.15). PrimeEnergy had a net margin of 13.87% and a return on equity of 11.47%. The business had revenue of $50.40 million for the quarter, compared to the consensus estimate of $50.40 million.

Analyst Ratings Changes

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

Institutional Trading of PrimeEnergy

Several institutional investors have recently modified their holdings of PNRG. Dimensional Fund Advisors LP raised its stake in shares of PrimeEnergy by 9.6% in the first quarter. Dimensional Fund Advisors LP now owns 78,872 shares of the oil and natural gas company’s stock valued at $18,366,000 after purchasing an additional 6,902 shares in the last quarter. Millennium Management LLC lifted its position 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 worth $8,716,000 after purchasing an additional 30,718 shares during the period. BNP Paribas Financial Markets boosted its stake in PrimeEnergy by 690.7% during the fourth quarter. BNP Paribas Financial Markets now owns 36,546 shares of the oil and natural gas company’s stock worth $6,249,000 after buying an additional 31,924 shares in the last quarter. Vanguard Group Inc. increased its holdings in PrimeEnergy by 60.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,258 shares of the oil and natural gas company’s stock valued at $4,219,000 after buying an additional 9,522 shares during the period. Finally, Invesco Ltd. increased its holdings in PrimeEnergy by 537.6% in the 4th quarter. Invesco Ltd. now owns 19,950 shares of the oil and natural gas company’s stock valued at $3,411,000 after buying an additional 16,821 shares during the period.

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.