PrimeEnergy Corporation $PNRG Shares Acquired by UBS Group AG

UBS Group AG lifted its holdings in shares of PrimeEnergy Corporation (NASDAQ:PNRG) by 21.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,823 shares of the oil and natural gas company’s stock after acquiring an additional 2,411 shares during the period. UBS Group AG’s holdings in PrimeEnergy were worth $2,364,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of PrimeEnergy by 8.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 65,483 shares of the oil and natural gas company’s stock worth $10,936,000 after acquiring an additional 4,994 shares in the last quarter. Millennium Management LLC raised its position in shares of PrimeEnergy by 143.1% during the 3rd quarter. Millennium Management LLC now owns 52,180 shares of the oil and natural gas company’s stock worth $8,716,000 after acquiring an additional 30,718 shares in the last quarter. Vanguard Group Inc. raised its position in shares of PrimeEnergy by 60.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,258 shares of the oil and natural gas company’s stock worth $4,219,000 after acquiring an additional 9,522 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of PrimeEnergy by 6,756.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,210 shares of the oil and natural gas company’s stock worth $2,875,000 after acquiring an additional 16,959 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of PrimeEnergy by 16.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 16,719 shares of the oil and natural gas company’s stock worth $2,447,000 after acquiring an additional 2,374 shares in the last quarter.

Insider Buying and Selling at PrimeEnergy

In other PrimeEnergy news, major shareholder Rothschild Robert De sold 13,274 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $231.60, for a total value of $3,074,258.40. Following the completion of the transaction, the insider owned 187,483 shares in the company, valued at $43,421,062.80. This represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Clint Hurt sold 10,000 shares of the company’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $230.92, for a total transaction of $2,309,200.00. Following the completion of the sale, the director directly owned 93,737 shares of the company’s stock, valued at $21,645,748.04. The trade was a 9.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 25,274 shares of company stock valued at $5,824,338 in the last 90 days. 65.28% of the stock is currently owned by insiders.

PrimeEnergy Price Performance

NASDAQ PNRG opened at $232.56 on Thursday. PrimeEnergy Corporation has a 1 year low of $126.40 and a 1 year high of $278.90. The company has a market capitalization of $376.75 million, a PE ratio of 25.96 and a beta of -0.15. The company has a fifty day moving average of $230.63 and a two-hundred day moving average of $196.11.

PrimeEnergy (NASDAQ:PNRG) last released its quarterly earnings data on Thursday, April 16th. The oil and natural gas company reported $1.43 earnings per share (EPS) for the quarter. PrimeEnergy had a net margin of 12.06% and a return on equity of 10.10%. The company had revenue of $50.06 million during the quarter.

Analysts Set New Price Targets

Several research firms have issued reports on PNRG. Weiss Ratings restated a “hold (c)” rating on shares of PrimeEnergy in a research note on Friday, March 27th. Wall Street Zen upgraded shares of PrimeEnergy from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

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.