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

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 1,800 shares of PrimeEnergy stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $221.52, for a total value of $398,736.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $1,611,729.03.
• On Monday, August 24th, Clint Hurt sold 1,993 shares of PrimeEnergy stock. The stock was sold at an average price of $208.09, for a total value of $414,723.37.

PrimeEnergy Stock Performance

NASDAQ PNRG opened at $217.35 on Friday. The stock has a 50 day moving average price of $192.83 and a 200-day moving average price of $204.27. PrimeEnergy Corporation has a one year low of $126.40 and a one year high of $278.90. The company has a market capitalization of $344.07 million, a P/E ratio of 20.94 and a beta of -0.24.

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 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 analysts’ expectations of $50.40 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PNRG. State of Wyoming lifted its position in shares of PrimeEnergy by 78.7% in the 4th 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 period. Quarry LP purchased a new stake in PrimeEnergy during the third quarter worth $38,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of PrimeEnergy in the 3rd quarter valued at $44,000. Tower Research Capital LLC TRC raised its position in shares of PrimeEnergy by 571.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 477 shares of the oil and natural gas company’s stock worth $70,000 after acquiring an additional 406 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of PrimeEnergy by 74.8% during the 4th quarter. Wells Fargo & Company MN now owns 479 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 205 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Freedom Capital upgraded PrimeEnergy from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Wall Street Zen cut shares of PrimeEnergy from a “buy” rating to a “hold” rating in a research report on Sunday, May 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PrimeEnergy in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company 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.