PrimeEnergy (NASDAQ:PNRG) Major Shareholder Rothschild Robert De Sells 10,000 Shares of Stock

PrimeEnergy Corporation (NASDAQ:PNRG) major shareholder Rothschild Robert De sold 10,000 shares of PrimeEnergy stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $181.81, for a total transaction of $1,818,100.00. Following the completion of the sale, the insider owned 201,906 shares of the company’s stock, valued at $36,708,529.86. This represents a 4.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

PrimeEnergy Trading Down 4.3%

NASDAQ:PNRG opened at $175.20 on Tuesday. The company has a market cap of $285.58 million, a PE ratio of 16.77 and a beta of -0.03. The company has a 50 day simple moving average of $176.31 and a two-hundred day simple moving average of $164.11. PrimeEnergy Corporation has a 12 month low of $126.40 and a 12 month 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 (EPS) 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%.

Wall Street Analyst Weigh In

PNRG has been the subject of several research reports. Wall Street Zen raised shares of PrimeEnergy from a “sell” rating to a “hold” rating in a research report 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.com, the company presently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PNRG. AQR Capital Management LLC increased its holdings in PrimeEnergy by 286.2% in the 1st quarter. AQR Capital Management LLC now owns 6,897 shares of the oil and natural gas company’s stock worth $1,572,000 after acquiring an additional 5,111 shares in the last quarter. Empowered Funds LLC raised its stake in PrimeEnergy by 6.7% during the 1st quarter. Empowered Funds LLC now owns 8,649 shares of the oil and natural gas company’s stock worth $1,971,000 after acquiring an additional 541 shares during the period. Aviva PLC purchased a new position in PrimeEnergy during the second quarter valued at approximately $281,000. Wittenberg Investment Management Inc. purchased a new position in PrimeEnergy during the second quarter valued at approximately $439,000. Finally, Magnetar Financial LLC bought a new position in shares of PrimeEnergy in the second quarter worth approximately $298,000.

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.