Insider Selling: PrimeEnergy (NASDAQ:PNRG) Major Shareholder Sells $1,590,795.00 in Stock

PrimeEnergy Corporation (NASDAQ:PNRG) major shareholder Rothschild Robert De sold 8,700 shares of PrimeEnergy stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $182.85, for a total transaction of $1,590,795.00. Following the completion of the transaction, the insider directly owned 222,057 shares in the company, valued at approximately $40,603,122.45. The trade was a 3.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

PrimeEnergy Price Performance

NASDAQ:PNRG traded down $6.82 on Thursday, hitting $171.30. 49,187 shares of the company’s stock were exchanged, compared to its average volume of 59,796. The company has a market cap of $279.22 million, a P/E ratio of 16.39 and a beta of 0.01. The firm has a 50-day moving average price of $168.97 and a 200-day moving average price of $162.45. PrimeEnergy Corporation has a 52 week low of $126.40 and a 52 week high of $239.87.

PrimeEnergy (NASDAQ:PNRG) last announced its quarterly earnings results on Wednesday, November 19th. The oil and natural gas company reported $4.38 EPS for the quarter. The firm had revenue of $44.66 million during the quarter. PrimeEnergy had a net margin of 12.69% and a return on equity of 12.19%.

Analyst Ratings Changes

A number of brokerages have recently commented on PNRG. Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a report on Monday, December 29th. Wall Street Zen raised PrimeEnergy from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On PrimeEnergy

Several institutional investors have recently made changes to their positions in PNRG. State of Wyoming raised its position in PrimeEnergy by 62.7% in the 2nd quarter. State of Wyoming now owns 423 shares of the oil and natural gas company’s stock worth $62,000 after purchasing an additional 163 shares during the period. Quarry LP bought a new position in shares of PrimeEnergy in the third quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of PrimeEnergy in the third quarter worth $44,000. CWM LLC raised its holdings in PrimeEnergy by 673.6% during the 3rd quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock valued at $68,000 after buying an additional 357 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in 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 valued at $70,000 after buying an additional 406 shares during the period.

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.