PrimeEnergy (NASDAQ:PNRG) Upgraded at Freedom Capital

PrimeEnergy (NASDAQ:PNRG) was upgraded by research analysts at Freedom Capital from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of PrimeEnergy from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Weiss Ratings restated a “hold (c)” rating on shares of PrimeEnergy in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

PrimeEnergy Stock Performance

PNRG stock opened at $212.71 on Monday. PrimeEnergy has a fifty-two week low of $126.40 and a fifty-two week high of $278.90. The stock’s 50 day simple moving average is $184.00 and its 200 day simple moving average is $201.93. The company has a market cap of $344.59 million, a P/E ratio of 20.49 and a beta of -0.27.

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 analysts’ consensus estimates of $5.90 by ($3.15). PrimeEnergy had a return on equity of 11.51% and a net margin of 13.87%.The firm had revenue of $50.40 million during the quarter, compared to the consensus estimate of $50.40 million.

Institutional Investors Weigh In On PrimeEnergy

Hedge funds have recently added to or reduced their stakes in the company. State of Wyoming lifted its position in PrimeEnergy by 78.7% in the 4th quarter. State of Wyoming now owns 168 shares of the oil and natural gas company’s stock worth $29,000 after buying an additional 74 shares during the last quarter. Quarry LP bought a new stake in PrimeEnergy in the 3rd quarter worth $38,000. Caitong International Asset Management Co. Ltd purchased a new position in PrimeEnergy during the 3rd quarter valued at about $44,000. Tower Research Capital LLC TRC increased its stake in shares of PrimeEnergy by 571.8% during 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 buying an additional 406 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in PrimeEnergy by 74.8% in 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.

PrimeEnergy Company 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.