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

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 8,007 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $201.29, for a total value of $1,611,729.03. Following the completion of the transaction, the director directly owned 81,737 shares in the company, valued at approximately $16,452,840.73. This trade represents a 8.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 Stock Up 0.8%

NASDAQ:PNRG opened at $210.49 on Friday. The company has a fifty day moving average of $187.93 and a 200-day moving average of $203.17. The firm has a market capitalization of $332.57 million, a P/E ratio of 20.28 and a beta of -0.27. PrimeEnergy Corporation has a twelve month low of $126.40 and a twelve month high of $278.90.

PrimeEnergy (NASDAQ:PNRG) last issued 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 return on equity of 11.47% and a net margin of 13.87%.The company had revenue of $50.40 million for the quarter, compared to the consensus estimate of $50.40 million.

Wall Street Analyst Weigh In

A number of analysts recently commented on PNRG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PrimeEnergy in a research report on Wednesday, June 24th. Freedom Capital upgraded PrimeEnergy from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Finally, Wall Street Zen cut PrimeEnergy from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State of Wyoming increased its position in shares of 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 in the last quarter. Quarry LP bought a new position in PrimeEnergy in the 3rd quarter valued at about $38,000. Caitong International Asset Management Co. Ltd acquired a new position in PrimeEnergy during the 3rd quarter valued at about $44,000. Tower Research Capital LLC TRC boosted its stake 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 purchasing an additional 406 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in 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 in the last quarter.

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.