PrimeEnergy Resources Co. (NASDAQ:PNRG) Short Interest Update

PrimeEnergy Resources Co. (NASDAQ:PNRGGet Rating) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,800 shares, a decline of 30.8% from the March 31st total of 2,600 shares. Based on an average daily volume of 4,900 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the shares of the stock are sold short.

NASDAQ PNRG opened at $78.00 on Friday. PrimeEnergy Resources has a 52 week low of $39.89 and a 52 week high of $89.51. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $74.74 and its 200-day simple moving average is $71.20. The firm has a market cap of $154.44 million, a PE ratio of 101.30 and a beta of 0.96.

In other PrimeEnergy Resources news, Director Clint Hurt sold 471 shares of PrimeEnergy Resources stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $81.63, for a total transaction of $38,447.73. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 3,171 shares of company stock worth $259,894. 57.46% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP purchased a new position in shares of PrimeEnergy Resources during the 4th quarter worth approximately $216,000. Millennium Management LLC purchased a new position in shares of PrimeEnergy Resources during the 2nd quarter worth approximately $208,000. JPMorgan Chase & Co. purchased a new position in shares of PrimeEnergy Resources during the 4th quarter worth approximately $27,000. Marshall Wace North America L.P. purchased a new position in shares of PrimeEnergy Resources during the 1st quarter worth approximately $26,000. Finally, Wedbush Securities Inc. boosted its position in shares of 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 purchasing an additional 2,825 shares during the period. Hedge funds and other institutional investors own 11.68% of the company’s stock.

Separately, TheStreet upgraded PrimeEnergy Resources from a “d” rating to a “c” rating in a report on Friday, April 22nd.

PrimeEnergy Resources Company Profile (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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