Insider Selling: PrimeEnergy (NASDAQ:PNRG) Director Sells 5,000 Shares of Stock

by · The Cerbat Gem

PrimeEnergy Corporation (NASDAQ:PNRG – Get Free Report) Director Clint Hurt sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $190.20, for a total transaction of $951,000.00. Following the completion of the sale, the director owned 120,763 shares in the company, valued at $22,969,122.60. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

  • On Thursday, December 11th, Clint Hurt sold 1,285 shares of PrimeEnergy stock. The stock was sold at an average price of $190.07, for a total transaction of $244,239.95.
  • On Wednesday, December 10th, Clint Hurt sold 3,715 shares of PrimeEnergy stock. The shares were sold at an average price of $190.12, for a total value of $706,295.80.

PrimeEnergy Stock Down 4.0%

PrimeEnergy stock traded down $7.33 during midday trading on Friday, reaching $177.19. The company’s stock had a trading volume of 48,090 shares, compared to its average volume of 63,820. The company has a market cap of $289.70 million, a P/E ratio of 16.96 and a beta of -0.08. The business has a 50-day simple moving average of $157.63 and a 200-day simple moving average of $160.28. PrimeEnergy Corporation has a fifty-two week low of $126.40 and a fifty-two week high of $243.49.

PrimeEnergy (NASDAQ:PNRG – Get Free Report) last released its quarterly earnings data on Wednesday, November 19th. The oil and natural gas company reported $4.38 EPS for the quarter. PrimeEnergy had a return on equity of 12.19% and a net margin of 12.69%.The business had revenue of $44.66 million for the quarter.

Hedge Funds Weigh In On PrimeEnergy

A number of hedge funds have recently modified their holdings of PNRG. State of Wyoming raised its position 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 purchasing an additional 163 shares during the last quarter. Quarry LP acquired a new position in PrimeEnergy in the third quarter valued at $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of PrimeEnergy in the third quarter valued at about $44,000. CWM LLC raised its holdings in shares of PrimeEnergy by 673.6% in the third quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock valued at $68,000 after buying an additional 357 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted 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 worth $70,000 after buying an additional 406 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PNRG. Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a research note on Monday. Wall Street Zen raised shares of PrimeEnergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, PrimeEnergy presently has an average rating of “Hold”.

Check Out Our Latest Stock Analysis on PNRG

PrimeEnergy Company Profile

(Get Free Report)

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.

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