5,487 Shares in PrimeEnergy Corporation $PNRG Bought by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in shares of PrimeEnergy Corporation (NASDAQ:PNRG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,487 shares of the oil and natural gas company’s stock, valued at approximately $916,000. Principal Financial Group Inc. owned approximately 0.33% of PrimeEnergy as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PNRG. American Century Companies Inc. grew its stake in shares of PrimeEnergy by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 16,778 shares of the oil and natural gas company’s stock valued at $2,456,000 after acquiring an additional 901 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in PrimeEnergy by 16.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 16,719 shares of the oil and natural gas company’s stock worth $2,447,000 after acquiring an additional 2,374 shares during the period. Bridgeway Capital Management LLC lifted its holdings in PrimeEnergy by 5.9% during the second quarter. Bridgeway Capital Management LLC now owns 13,750 shares of the oil and natural gas company’s stock valued at $2,013,000 after purchasing an additional 760 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in PrimeEnergy during the second quarter valued at approximately $1,894,000. Finally, Marex Group plc bought a new position in shares of PrimeEnergy in the second quarter worth approximately $1,317,000.

Insider Buying and Selling at PrimeEnergy

In other PrimeEnergy news, major shareholder Rothschild Robert De sold 1,149 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $186.75, for a total transaction of $214,575.75. Following the completion of the transaction, the insider owned 200,757 shares in the company, valued at $37,491,369.75. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Clint Hurt sold 8,936 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $191.58, for a total value of $1,711,958.88. Following the completion of the sale, the director owned 105,763 shares in the company, valued at approximately $20,262,075.54. The trade was a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 50,000 shares of company stock worth $9,329,161. Insiders own 62.77% of the company’s stock.

Analysts Set New Price Targets

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

PrimeEnergy Trading Up 3.7%

PNRG opened at $173.69 on Thursday. The stock has a 50-day moving average of $176.29 and a 200 day moving average of $165.27. PrimeEnergy Corporation has a 12 month low of $126.40 and a 12 month high of $238.20. The firm has a market cap of $283.11 million, a P/E ratio of 16.62 and a beta of -0.03.

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

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. 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.