PrimeEnergy (NASDAQ:PNRG) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of PrimeEnergy Corporation (NASDAQ:PNRG) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $162.28 and traded as high as $186.69. PrimeEnergy shares last traded at $179.35, with a volume of 68,615 shares traded.

Analyst Ratings Changes

Several analysts have recently weighed in on PNRG shares. Wall Street Zen upgraded shares of PrimeEnergy from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of PrimeEnergy in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

PrimeEnergy Trading Down 1.6%

The company’s 50 day moving average is $167.32 and its 200-day moving average is $162.28. The firm has a market capitalization of $292.34 million, a price-to-earnings ratio of 17.16 and a beta of 0.01.

PrimeEnergy (NASDAQ:PNRG) last released its quarterly earnings data on Wednesday, November 19th. The oil and natural gas company reported $4.38 EPS for the quarter. PrimeEnergy had a net margin of 12.69% and a return on equity of 12.19%. The firm had revenue of $44.66 million for the quarter.

Insider Buying and Selling at PrimeEnergy

In other news, Director Clint Hurt sold 1,285 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $190.07, for a total transaction of $244,239.95. Following the completion of the sale, the director owned 115,763 shares of the company’s stock, valued at approximately $22,003,073.41. This represents a 1.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 10,000 shares of company stock worth $1,901,536. Corporate insiders own 62.77% of the company’s stock.

Hedge Funds Weigh In On PrimeEnergy

Several institutional investors and hedge funds have recently added to or reduced their stakes in PNRG. Quarry LP acquired a new position in shares of PrimeEnergy during the third quarter worth $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of PrimeEnergy in the third quarter valued at about $44,000. State of Wyoming lifted its holdings in PrimeEnergy by 62.7% during the second quarter. State of Wyoming now owns 423 shares of the oil and natural gas company’s stock worth $62,000 after acquiring an additional 163 shares during the period. CWM LLC grew its position in PrimeEnergy by 673.6% during the third quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock valued at $68,000 after buying an additional 357 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in PrimeEnergy by 571.8% in the second quarter. Tower Research Capital LLC TRC now owns 477 shares of the oil and natural gas company’s stock valued at $70,000 after purchasing an additional 406 shares during the last 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. 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, site-preparation, and construction services for oil and gas drilling and reworking operations.