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

PrimeEnergy Resources Co. (NASDAQ:PNRGGet Rating) saw a large increase in short interest in April. As of April 30th, there was short interest totalling 2,400 shares, an increase of 33.3% from the April 15th total of 1,800 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 4,300 shares, the days-to-cover ratio is presently 0.6 days.

NASDAQ PNRG opened at $77.00 on Monday. The company has a market cap of $152.38 million, a P/E ratio of 100.00 and a beta of 0.80. PrimeEnergy Resources has a 1 year low of $39.89 and a 1 year high of $89.51. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $75.22 and a 200 day simple moving average of $72.15.

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

In other news, Director Clint Hurt sold 700 shares of the company’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $80.38, for a total value of $56,266.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders sold 3,171 shares of company stock valued at $259,894. Insiders own 57.46% of the company’s stock.

Several large investors have recently modified their holdings of the company. Marshall Wace North America L.P. bought a new stake in shares of PrimeEnergy Resources in the first quarter valued at approximately $26,000. Millennium Management LLC bought a new position in shares of PrimeEnergy Resources during the 2nd quarter worth about $208,000. Cannell Capital LLC raised its position in shares of PrimeEnergy Resources by 72.6% during the third quarter. Cannell Capital LLC now owns 10,700 shares of the oil and natural gas company’s stock valued at $625,000 after buying an additional 4,500 shares during the last quarter. Wedbush Securities Inc. lifted its stake in shares of PrimeEnergy Resources by 59.2% in the fourth quarter. Wedbush Securities Inc. now owns 7,598 shares of the oil and natural gas company’s stock valued at $533,000 after buying an additional 2,825 shares during the period. Finally, JPMorgan Chase & Co. bought a new position in PrimeEnergy Resources during the fourth quarter valued at about $27,000. 12.19% of the stock is currently owned by institutional investors.

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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