PrimeEnergy Resources (NASDAQ:PNRG) Upgraded at TheStreet

TheStreet upgraded shares of PrimeEnergy Resources (NASDAQ:PNRGGet Rating) from a d rating to a c rating in a research note published on Friday, TheStreetRatingsTable reports.

Shares of NASDAQ PNRG opened at $78.50 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $156.53 million, a PE ratio of 101.95 and a beta of 0.96. The firm’s fifty day moving average is $74.38. PrimeEnergy Resources has a 12-month low of $39.89 and a 12-month high of $89.51.

In other PrimeEnergy Resources news, Director Clint Hurt sold 700 shares of the stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $80.38, for a total transaction of $56,266.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 3,171 shares of company stock valued at $259,894 in the last 90 days. 57.46% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PNRG. Marshall Wace North America L.P. purchased a new position in PrimeEnergy Resources in the 1st quarter worth approximately $26,000. JPMorgan Chase & Co. acquired a new position in PrimeEnergy Resources during the 4th quarter worth about $27,000. Millennium Management LLC acquired a new position in PrimeEnergy Resources during the 2nd quarter worth about $208,000. Susquehanna International Group LLP acquired a new position in PrimeEnergy Resources during the 4th quarter worth about $216,000. Finally, Wedbush Securities Inc. lifted its stake in PrimeEnergy Resources by 59.2% during the 4th quarter. Wedbush Securities Inc. now owns 7,598 shares of the oil and natural gas company’s stock worth $533,000 after acquiring an additional 2,825 shares in the last quarter. 11.68% of the stock is currently owned by institutional investors and hedge funds.

About PrimeEnergy Resources (Get Rating)

PrimeEnergy Resources Corporation, an independent oil and natural gas company, through its subsidiaries, engages in acquiring, developing, and producing oil and natural gas properties in the United States. 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 operations, site-preparation, and construction services for oil and gas drilling and reworking operations.

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