GAMMA Investing LLC Boosts Stake in PrimeEnergy Corporation (NASDAQ:PNRG)

GAMMA Investing LLC boosted its stake in PrimeEnergy Corporation (NASDAQ:PNRG) by 22,683.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,367 shares of the oil and natural gas company’s stock after purchasing an additional 1,361 shares during the period. GAMMA Investing LLC owned about 0.08% of PrimeEnergy worth $312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its position in shares of PrimeEnergy by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 425 shares of the oil and natural gas company’s stock worth $93,000 after buying an additional 81 shares during the period. Cannell Capital LLC lifted its stake in PrimeEnergy by 3.2% during the 4th quarter. Cannell Capital LLC now owns 6,053 shares of the oil and natural gas company’s stock worth $1,329,000 after acquiring an additional 187 shares in the last quarter. Northern Trust Corp lifted its stake in PrimeEnergy by 4.7% during the 4th quarter. Northern Trust Corp now owns 10,425 shares of the oil and natural gas company’s stock worth $2,289,000 after acquiring an additional 464 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in PrimeEnergy during the 4th quarter valued at about $203,000. Finally, Nuveen Asset Management LLC acquired a new position in PrimeEnergy in the 4th quarter valued at about $207,000.

Insiders Place Their Bets

In related news, major shareholder Rothschild Robert De sold 1,767 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $187.00, for a total transaction of $330,429.00. Following the sale, the insider now directly owns 230,757 shares in the company, valued at approximately $43,151,559. This represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 62.77% of the company’s stock.

PrimeEnergy Stock Up 3.8%

Shares of NASDAQ:PNRG opened at $153.31 on Friday. The firm has a market capitalization of $254.49 million, a PE ratio of 7.19 and a beta of 0.24. PrimeEnergy Corporation has a 1 year low of $104.62 and a 1 year high of $243.49. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.49 and a quick ratio of 0.49. The firm’s 50-day moving average is $171.17 and its two-hundred day moving average is $192.44.

PrimeEnergy (NASDAQ:PNRG) last announced its earnings results on Monday, May 19th. The oil and natural gas company reported $3.72 earnings per share for the quarter. The firm had revenue of $50.06 million for the quarter. PrimeEnergy had a net margin of 21.73% and a return on equity of 26.67%.

About PrimeEnergy

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.