PrimeEnergy (NASDAQ:PNRG) Shares Pass Above 200 Day Moving Average – Should You Sell?

PrimeEnergy Corporation (NASDAQ:PNRG) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $166.24 and traded as high as $207.00. PrimeEnergy shares last traded at $205.68, with a volume of 90,860 shares traded.

Analyst Upgrades and Downgrades

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

PrimeEnergy Stock Up 3.4%

The stock has a market cap of $335.26 million, a PE ratio of 19.68 and a beta of -0.08. The business’s 50-day simple moving average is $179.02 and its 200-day simple moving average is $166.24.

Insider Buying and Selling

In other news, Director Clint Hurt sold 8,936 shares of PrimeEnergy 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 sale, the director directly owned 105,763 shares in the company, valued at approximately $20,262,075.54. This trade represents a 7.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Rothschild Robert De sold 10,151 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $186.19, for a total transaction of $1,890,014.69. Following the completion of the transaction, the insider owned 211,906 shares of the company’s stock, valued at $39,454,778.14. This trade represents a 4.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 50,000 shares of company stock valued at $9,329,161 in the last ninety days. 62.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State of Wyoming boosted its holdings in PrimeEnergy by 78.7% in the fourth quarter. State of Wyoming now owns 168 shares of the oil and natural gas company’s stock worth $29,000 after acquiring an additional 74 shares in the last quarter. Quarry LP purchased a new position in shares of PrimeEnergy in the 3rd quarter worth about $38,000. Caitong International Asset Management Co. Ltd bought a new position in PrimeEnergy in the 3rd quarter worth about $44,000. Flagship Harbor Advisors LLC purchased a new stake in PrimeEnergy during the 4th quarter valued at about $52,000. Finally, CWM LLC grew its position in PrimeEnergy by 673.6% during the 3rd quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock valued at $68,000 after purchasing an additional 357 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.