Bank of New York Mellon Corp Acquires 778 Shares of PrimeEnergy Corporation (NASDAQ:PNRG)

Bank of New York Mellon Corp grew its holdings in PrimeEnergy Corporation (NASDAQ:PNRG) by 69.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,896 shares of the oil and natural gas company’s stock after acquiring an additional 778 shares during the quarter. Bank of New York Mellon Corp owned 0.11% of PrimeEnergy worth $432,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. bought a new stake in PrimeEnergy in the fourth quarter valued at approximately $530,000. Arrowstreet Capital Limited Partnership bought a new position in shares of PrimeEnergy during the fourth quarter worth approximately $815,000. American Century Companies Inc. increased its stake in shares of PrimeEnergy by 363.6% during the fourth quarter. American Century Companies Inc. now owns 7,270 shares of the oil and natural gas company’s stock worth $1,596,000 after purchasing an additional 5,702 shares during the period. GAMMA Investing LLC increased its stake in shares of PrimeEnergy by 22,683.3% during the first quarter. GAMMA Investing LLC now owns 1,367 shares of the oil and natural gas company’s stock worth $312,000 after purchasing an additional 1,361 shares during the period. Finally, Nuveen Asset Management LLC bought a new position in shares of PrimeEnergy during the fourth quarter worth approximately $207,000.

Insider Buying and Selling at PrimeEnergy

In related news, major shareholder Rothschild Robert De sold 4,389 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $188.01, for a total value of $825,175.89. Following the completion of the sale, the insider directly owned 232,524 shares of the company’s stock, valued at $43,716,837.24. The trade was a 1.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 62.77% of the company’s stock.

PrimeEnergy Trading Down 6.4%

Shares of NASDAQ:PNRG opened at $157.71 on Monday. The company has a market capitalization of $261.80 million, a P/E ratio of 7.40 and a beta of 0.19. PrimeEnergy Corporation has a 1 year low of $105.03 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 business’s 50 day simple moving average is $161.56 and its 200 day simple moving average is $183.77.

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

PrimeEnergy Company Profile

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.