MetLife Investment Management LLC Buys New Stake in PrimeEnergy Corporation $PNRG

MetLife Investment Management LLC bought a new stake in PrimeEnergy Corporation (NASDAQ:PNRG) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 408 shares of the oil and natural gas company’s stock, valued at approximately $93,000.

Several other large investors have also recently made changes to their positions in PNRG. Northern Trust Corp lifted its stake in shares of PrimeEnergy by 4.7% in the 4th quarter. Northern Trust Corp now owns 10,425 shares of the oil and natural gas company’s stock valued at $2,289,000 after purchasing an additional 464 shares during the period. Ameriprise Financial Inc. acquired a new position in shares of PrimeEnergy in the 4th quarter valued at $530,000. Ethic Inc. acquired a new position in shares of PrimeEnergy in the 4th quarter valued at $472,000. Lazard Asset Management LLC raised its position in PrimeEnergy by 458.4% during the fourth quarter. Lazard Asset Management LLC now owns 1,530 shares of the oil and natural gas company’s stock worth $335,000 after acquiring an additional 1,256 shares during the period. Finally, Nuveen Asset Management LLC acquired a new position in PrimeEnergy during the fourth quarter worth $207,000.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of PrimeEnergy from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd.

PrimeEnergy Price Performance

Shares of NASDAQ PNRG opened at $163.18 on Thursday. The firm has a 50-day simple moving average of $160.28 and a 200-day simple moving average of $174.31. The stock has a market capitalization of $269.25 million, a price-to-earnings ratio of 10.97 and a beta of 0.20. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.06. PrimeEnergy Corporation has a 52 week low of $124.25 and a 52 week high of $243.49.

PrimeEnergy (NASDAQ:PNRG) last issued its earnings results on Tuesday, August 19th. The oil and natural gas company reported $1.33 EPS for the quarter. The business had revenue of $41.98 million during the quarter. PrimeEnergy had a net margin of 16.54% and a return on equity of 17.98%.

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.