Cannell Capital LLC Purchases 2,968 Shares of PrimeEnergy Corporation $PNRG

Cannell Capital LLC raised its position in shares of PrimeEnergy Corporation (NASDAQ:PNRG) by 44.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,670 shares of the oil and natural gas company’s stock after purchasing an additional 2,968 shares during the period. Cannell Capital LLC’s holdings in PrimeEnergy were worth $1,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Bridgeway Capital Management LLC increased its stake in shares of PrimeEnergy by 13.9% in the third quarter. Bridgeway Capital Management LLC now owns 15,657 shares of the oil and natural gas company’s stock worth $2,615,000 after purchasing an additional 1,907 shares in the last quarter. UBS Group AG lifted its stake in shares of PrimeEnergy by 163.7% during the 3rd quarter. UBS Group AG now owns 11,412 shares of the oil and natural gas company’s stock valued at $1,906,000 after buying an additional 7,084 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in PrimeEnergy by 5,902.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,622 shares of the oil and natural gas company’s stock worth $772,000 after buying an additional 4,545 shares during the period. First Trust Advisors LP increased its stake in PrimeEnergy by 294.6% in the 3rd quarter. First Trust Advisors LP now owns 8,448 shares of the oil and natural gas company’s stock worth $1,411,000 after buying an additional 6,307 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in PrimeEnergy by 8.3% in 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 buying an additional 4,994 shares in the last quarter.

PrimeEnergy Stock Performance

PNRG opened at $205.66 on Friday. The stock has a market capitalization of $335.23 million, a price-to-earnings ratio of 19.68 and a beta of -0.08. The company has a fifty day moving average of $184.34 and a 200 day moving average of $169.76. PrimeEnergy Corporation has a fifty-two week low of $126.40 and a fifty-two week high of $238.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PNRG shares. Weiss Ratings reissued a “hold (c)” rating on shares of PrimeEnergy in a report on Monday, December 29th. Wall Street Zen upgraded PrimeEnergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

Insider Activity

In other PrimeEnergy news, major shareholder Rothschild Robert De sold 1,149 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $186.75, for a total transaction of $214,575.75. Following the completion of the transaction, the insider owned 200,757 shares in the company, valued at $37,491,369.75. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Clint Hurt sold 8,936 shares of PrimeEnergy stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $191.58, for a total value of $1,711,958.88. Following the completion of the sale, the director directly owned 105,763 shares in the company, valued at approximately $20,262,075.54. The trade was a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,000 shares of company stock worth $7,427,626 over the last ninety days. Insiders own 62.77% of the company’s stock.

PrimeEnergy 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.