UBS Group AG Increases Position in PrimeEnergy Corporation $PNRG

UBS Group AG raised its position in PrimeEnergy Corporation (NASDAQ:PNRG) by 21.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,823 shares of the oil and natural gas company’s stock after purchasing an additional 2,411 shares during the quarter. UBS Group AG owned 0.85% of PrimeEnergy worth $2,364,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in PrimeEnergy in the third quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in PrimeEnergy in the third quarter valued at approximately $44,000. Flagship Harbor Advisors LLC purchased a new stake in PrimeEnergy in the fourth quarter valued at approximately $52,000. State of Wyoming raised its position in PrimeEnergy by 62.7% in the second quarter. State of Wyoming now owns 423 shares of the oil and natural gas company’s stock valued at $62,000 after purchasing an additional 163 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in PrimeEnergy by 571.8% in the second 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 period.

PrimeEnergy Stock Down 6.8%

NASDAQ:PNRG opened at $232.56 on Thursday. The company has a fifty day simple moving average of $230.63 and a two-hundred day simple moving average of $196.11. The company has a market cap of $376.75 million, a price-to-earnings ratio of 25.96 and a beta of -0.15. PrimeEnergy Corporation has a 52 week low of $126.40 and a 52 week high of $278.90.

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

Analysts Set New Price Targets

PNRG has been the subject of several research reports. 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 equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Insider Buying and Selling at PrimeEnergy

In related news, major shareholder Rothschild Robert De sold 13,274 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $231.60, for a total transaction of $3,074,258.40. Following the completion of the transaction, the insider owned 187,483 shares in the company, valued at approximately $43,421,062.80. The trade was a 6.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Clint Hurt sold 10,000 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $230.92, for a total transaction of $2,309,200.00. Following the transaction, the director owned 93,737 shares of the company’s stock, valued at approximately $21,645,748.04. The trade was a 9.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 25,274 shares of company stock valued at $5,824,338. Insiders own 65.28% of the company’s stock.

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.