Key Points
- Director Clint Hurt sold 8,007 PrimeEnergy shares for approximately $1.61 million at an average price of $201.29, reducing his holdings by 8.92% to 81,737 shares. He also sold 1,993 shares the prior day for about $414,723.
- PrimeEnergy shares opened at $208.79, up 0.8%, with a market capitalization of roughly $329.9 million. The stock has traded between $126.40 and $278.90 over the past year.
- The company reported quarterly EPS of $2.75, missing analyst expectations of $5.90, while revenue matched estimates at $50.4 million. Analysts maintain an overall “Hold” rating, although institutional investors have recently increased their positions.
PrimeEnergy Corporation (NASDAQ:PNRG - Get Free Report) Director Clint Hurt sold 1,993 shares of the company's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $208.09, for a total value of $414,723.37. Following the transaction, the director owned 89,744 shares of the company's stock, valued at approximately $18,674,828.96. This represents a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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 value of $1,611,729.03.
PrimeEnergy Stock Up 0.8%
NASDAQ PNRG opened at $208.79 on Thursday. PrimeEnergy Corporation has a twelve month low of $126.40 and a twelve month high of $278.90. The firm has a market capitalization of $329.89 million, a PE ratio of 20.11 and a beta of -0.27. The stock's 50 day moving average is $187.23 and its 200 day moving average is $203.05.
PrimeEnergy (NASDAQ:PNRG - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The oil and natural gas company reported $2.75 earnings per share for the quarter, missing analysts' consensus estimates of $5.90 by ($3.15). The business had revenue of $50.40 million during the quarter, compared to analysts' expectations of $50.40 million. PrimeEnergy had a return on equity of 11.47% and a net margin of 13.87%.
Hedge Funds Weigh In On PrimeEnergy
Large investors have recently modified their holdings of the stock. State of Wyoming lifted its stake in shares of PrimeEnergy by 78.7% during the 4th quarter. State of Wyoming now owns 168 shares of the oil and natural gas company's stock worth $29,000 after acquiring an additional 74 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in PrimeEnergy by 1.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,061 shares of the oil and natural gas company's stock valued at $1,877,000 after acquiring an additional 121 shares during the period. Barclays PLC grew its position in PrimeEnergy by 33.8% in the 4th quarter. Barclays PLC now owns 637 shares of the oil and natural gas company's stock valued at $109,000 after acquiring an additional 161 shares during the last quarter. Marex Group plc grew its position in PrimeEnergy by 2.1% in the 4th quarter. Marex Group plc now owns 9,496 shares of the oil and natural gas company's stock valued at $1,624,000 after acquiring an additional 196 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in PrimeEnergy by 74.8% in the fourth 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 period.
Analyst Upgrades and Downgrades
Several research firms have weighed in on PNRG. Weiss Ratings reiterated a "hold (c)" rating on shares of PrimeEnergy in a research report on Wednesday, June 24th. Wall Street Zen cut PrimeEnergy from a "buy" rating to a "hold" rating in a report on Sunday, May 31st. Finally, Freedom Capital raised PrimeEnergy from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, PrimeEnergy currently has an average rating of "Hold".
Check Out Our Latest Report on PNRG
About PrimeEnergy
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
