Insider Selling: PrimeEnergy (NASDAQ:PNRG) Major Shareholder Sells $214,575.75 in Stock

PrimeEnergy Corporation (NASDAQ:PNRG) major shareholder Rothschild Robert De sold 1,149 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $186.75, for a total value of $214,575.75. Following the completion of the sale, the insider owned 200,757 shares of the company’s stock, valued at approximately $37,491,369.75. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Rothschild Robert De also recently made the following trade(s):

• On Friday, January 30th, Rothschild Robert De sold 10,000 shares of PrimeEnergy stock. The stock was sold at an average price of $181.81, for a total value of $1,818,100.00.
• On Thursday, January 29th, Rothschild Robert De sold 10,151 shares of PrimeEnergy stock. The stock was sold at an average price of $186.19, for a total value of $1,890,014.69.
• On Tuesday, January 13th, Rothschild Robert De sold 8,700 shares of PrimeEnergy stock. The shares were sold at an average price of $182.85, for a total value of $1,590,795.00.

PrimeEnergy Stock Performance

Shares of NASDAQ:PNRG opened at $197.20 on Thursday. The business’s 50-day simple moving average is $178.09 and its 200 day simple moving average is $165.22. The company has a market cap of $321.44 million, a P/E ratio of 18.87 and a beta of -0.03. PrimeEnergy Corporation has a one year low of $126.40 and a one year high of $238.20.

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

Hedge Funds Weigh In On PrimeEnergy

A number of hedge funds have recently bought and sold shares of PNRG. Dimensional Fund Advisors LP lifted its holdings in PrimeEnergy by 8.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 65,483 shares of the oil and natural gas company’s stock worth $10,936,000 after buying an additional 4,994 shares during the last quarter. Millennium Management LLC raised its position in shares of PrimeEnergy by 143.1% during the 3rd quarter. Millennium Management LLC now owns 52,180 shares of the oil and natural gas company’s stock valued at $8,716,000 after acquiring an additional 30,718 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in PrimeEnergy by 690.7% during the fourth quarter. BNP Paribas Financial Markets now owns 36,546 shares of the oil and natural gas company’s stock worth $6,249,000 after purchasing an additional 31,924 shares during the last quarter. Vanguard Group Inc. boosted its holdings in PrimeEnergy by 60.5% in the third quarter. Vanguard Group Inc. now owns 25,258 shares of the oil and natural gas company’s stock worth $4,219,000 after purchasing an additional 9,522 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in PrimeEnergy by 6,756.6% in the third quarter. JPMorgan Chase & Co. now owns 17,210 shares of the oil and natural gas company’s stock worth $2,875,000 after purchasing an additional 16,959 shares during the period.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of PrimeEnergy from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PrimeEnergy in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

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.