PrimeEnergy (NASDAQ:PNRG) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

PrimeEnergy Corporation (NASDAQ:PNRG) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $168.63 and traded as high as $210.00. PrimeEnergy shares last traded at $202.40, with a volume of 31,392 shares traded.

Analyst Ratings Changes

PNRG has been the subject of a number of research reports. Wall Street Zen upgraded PrimeEnergy from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

PrimeEnergy Price Performance

The firm’s fifty day moving average price is $182.20 and its 200-day moving average price is $168.63. The company has a market cap of $329.91 million, a price-to-earnings ratio of 19.37 and a beta of -0.08.

Insider Transactions at PrimeEnergy

In other news, major shareholder Rothschild Robert De sold 10,151 shares of PrimeEnergy stock in a transaction that occurred 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 sale, the insider owned 211,906 shares of the company’s stock, valued at approximately $39,454,778.14. The trade was a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Clint Hurt sold 8,936 shares of the business’s 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 transaction, the director owned 105,763 shares of the company’s stock, valued at approximately $20,262,075.54. This represents a 7.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,285 shares of company stock valued at $7,671,866 over the last three months. 62.77% of the stock is currently owned by company insiders.

Institutional Trading of PrimeEnergy

Several large investors have recently added to or reduced their stakes in the business. State of Wyoming increased its holdings in shares of PrimeEnergy by 78.7% during the fourth quarter. State of Wyoming now owns 168 shares of the oil and natural gas company’s stock valued at $29,000 after purchasing an additional 74 shares during the period. Barclays PLC raised its stake in shares of PrimeEnergy by 33.8% during the fourth quarter. Barclays PLC now owns 637 shares of the oil and natural gas company’s stock valued at $109,000 after purchasing an additional 161 shares in the last quarter. Marex Group plc lifted its holdings in PrimeEnergy by 2.1% in the fourth quarter. Marex Group plc now owns 9,496 shares of the oil and natural gas company’s stock worth $1,624,000 after purchasing an additional 196 shares during the period. Wells Fargo & Company MN lifted its holdings in PrimeEnergy by 74.8% in the fourth quarter. Wells Fargo & Company MN now owns 479 shares of the oil and natural gas company’s stock worth $82,000 after purchasing an additional 205 shares during the period. Finally, Quarry LP bought a new position in PrimeEnergy in the 3rd quarter valued at about $38,000.

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.