PrimeEnergy (NASDAQ:PNRG) Director Clint Hurt Sells 10,000 Shares of Stock

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 10,000 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $230.92, for a total value of $2,309,200.00. Following the completion of the sale, the director directly owned 93,737 shares of the company’s stock, valued at $21,645,748.04. This represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Clint Hurt also recently made the following trade(s):

• On Friday, February 6th, Clint Hurt sold 8,936 shares of PrimeEnergy stock. The stock was sold at an average price of $191.58, for a total transaction of $1,711,958.88.
• On Thursday, February 5th, Clint Hurt sold 1,064 shares of PrimeEnergy stock. The shares were sold at an average price of $190.02, for a total transaction of $202,181.28.

PrimeEnergy Price Performance

Shares of PrimeEnergy stock opened at $219.21 on Tuesday. PrimeEnergy Corporation has a fifty-two week low of $126.40 and a fifty-two week high of $249.50. The firm has a fifty day moving average price of $211.43 and a two-hundred day moving average price of $182.51. The company has a market cap of $355.12 million, a PE ratio of 20.19 and a beta of -0.18.

PrimeEnergy (NASDAQ:PNRG) last posted its quarterly earnings data on Thursday, April 16th. The oil and natural gas company reported $1.43 earnings per share (EPS) for the quarter. The company had revenue of $50.06 million for the quarter. PrimeEnergy had a net margin of 13.92% and a return on equity of 12.53%.

Hedge Funds Weigh In On PrimeEnergy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in shares of PrimeEnergy by 690.7% in the fourth quarter. BNP Paribas Financial Markets now owns 36,546 shares of the oil and natural gas company’s stock valued at $6,249,000 after buying an additional 31,924 shares during the last quarter. Millennium Management LLC increased its position in PrimeEnergy by 143.1% in 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. JPMorgan Chase & Co. increased its position in PrimeEnergy by 6,756.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,210 shares of the oil and natural gas company’s stock valued at $2,875,000 after acquiring an additional 16,959 shares in the last quarter. Invesco Ltd. raised its stake in shares of PrimeEnergy by 537.6% in the fourth quarter. Invesco Ltd. now owns 19,950 shares of the oil and natural gas company’s stock worth $3,411,000 after acquiring an additional 16,821 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of PrimeEnergy in the second quarter worth about $1,894,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus 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.