Insider Selling: PrimeEnergy (NASDAQ:PNRG) Director Sells 8,936 Shares of Stock

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 8,936 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $191.58, for a total transaction of $1,711,958.88. Following the completion of the transaction, the director directly owned 105,763 shares of the company’s stock, valued at $20,262,075.54. This trade represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, February 5th, Clint Hurt sold 1,064 shares of PrimeEnergy stock. The stock was sold at an average price of $190.02, for a total value of $202,181.28.
• On Thursday, December 11th, Clint Hurt sold 1,285 shares of PrimeEnergy stock. The shares were sold at an average price of $190.07, for a total value of $244,239.95.
• On Wednesday, December 10th, Clint Hurt sold 3,715 shares of PrimeEnergy stock. The stock was sold at an average price of $190.12, for a total transaction of $706,295.80.
• On Tuesday, December 9th, Clint Hurt sold 5,000 shares of PrimeEnergy stock. The shares were sold at an average price of $190.20, for a total value of $951,000.00.

PrimeEnergy Stock Down 0.0%

PNRG traded down $0.06 during trading hours on Monday, hitting $192.97. 47,880 shares of the company’s stock were exchanged, compared to its average volume of 57,345. The stock’s 50-day moving average is $177.49 and its two-hundred day moving average is $164.79. The stock has a market cap of $314.54 million, a price-to-earnings ratio of 18.47 and a beta of -0.03. PrimeEnergy Corporation has a 1-year low of $126.40 and a 1-year high of $238.20.

PrimeEnergy (NASDAQ:PNRG) last announced its earnings results on Wednesday, November 19th. The oil and natural gas company reported $4.38 earnings per share (EPS) for the quarter. The company 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 Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Quarry LP purchased a new position in PrimeEnergy in the third quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd bought a new position in shares of PrimeEnergy during the 3rd quarter worth $44,000. Flagship Harbor Advisors LLC purchased a new stake in PrimeEnergy in the 4th quarter worth about $52,000. CWM LLC increased its holdings in PrimeEnergy by 673.6% in the 3rd quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock worth $68,000 after acquiring an additional 357 shares during the last quarter. Finally, State of Wyoming raised its stake 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 valued at $62,000 after acquiring an additional 163 shares during the period.

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.