Key Points
- PrimeEnergy director Clint Hurt sold 1,800 shares for $398,736, reducing his stake by 2.2% to 79,937 shares. He also sold more than $2 million in shares in two transactions the prior week.
- PrimeEnergy reported quarterly earnings of $2.75 per share, missing analyst expectations of $5.90, while revenue matched estimates at $50.4 million.
- Analyst sentiment remains cautious: two analysts rate the stock Hold, giving PrimeEnergy an average consensus rating of “Hold.”
PrimeEnergy Corporation (NASDAQ:PNRG - Get Free Report) Director Clint Hurt sold 1,800 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $221.52, for a total transaction of $398,736.00. Following the sale, the director directly owned 79,937 shares of the company's stock, valued at $17,707,644.24. The trade was a 2.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 stock was sold at an average price of $208.09, for a total transaction of $414,723.37.
PrimeEnergy Trading Up 0.9%
Shares of PNRG stock opened at $217.35 on Friday. PrimeEnergy Corporation has a 12-month low of $126.40 and a 12-month high of $278.90. The business's fifty day simple moving average is $192.83 and its 200-day simple moving average is $204.27. The company has a market cap of $344.07 million, a PE ratio of 20.94 and a beta of -0.24.
PrimeEnergy (NASDAQ:PNRG - Get Free Report) last posted 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). 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 analyst estimates of $50.40 million.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of PrimeEnergy in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of PrimeEnergy from a "buy" rating to a "hold" rating in a report on Sunday, May 31st. Finally, Freedom Capital raised shares of 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.com, PrimeEnergy currently has an average rating of "Hold".
Read Our Latest Stock Analysis on PNRG
Institutional Trading of PrimeEnergy
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming grew its holdings in PrimeEnergy by 78.7% during the fourth 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 period. Quarry LP purchased a new stake in PrimeEnergy in the 3rd quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in PrimeEnergy in the 3rd quarter worth approximately $44,000. Tower Research Capital LLC TRC grew its stake in shares of 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 worth $70,000 after purchasing an additional 406 shares during the period. Finally, Wells Fargo & Company MN grew 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 period.
PrimeEnergy Company Profile
(
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.
Featured Articles
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].
