PrimeEnergy (NASDAQ:PNRG) Director Clint Hurt Sells 8,007 Shares

by · The Cerbat Gem

PrimeEnergy Corporation (NASDAQ:PNRG – Get Free Report) Director Clint Hurt sold 8,007 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $201.29, for a total value of $1,611,729.03. Following the sale, the director directly owned 81,737 shares of the company’s stock, valued at approximately $16,452,840.73. This represents a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Monday, August 24th, Clint Hurt sold 1,993 shares of PrimeEnergy stock. The shares were sold at an average price of $208.09, for a total value of $414,723.37.

PrimeEnergy Trading Up 0.8%

Shares of PrimeEnergy stock traded up $1.68 during trading hours on Wednesday, hitting $208.79. 122,236 shares of the company were exchanged, compared to its average volume of 65,309. PrimeEnergy Corporation has a 1 year low of $126.40 and a 1 year high of $278.90. The business has a 50-day moving average of $186.60 and a 200-day moving average of $202.92. The stock has a market capitalization of $330.51 million, a price-to-earnings ratio of 20.11 and a beta of -0.27.

PrimeEnergy (NASDAQ:PNRG – Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The oil and natural gas company reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $5.90 by ($3.15). The firm had revenue of $50.40 million during the quarter, compared to analysts’ expectations of $50.40 million. PrimeEnergy had a net margin of 13.87% and a return on equity of 11.47%.

Institutional Investors Weigh In On PrimeEnergy

Several institutional investors have recently made changes to their positions in the stock. State of Wyoming increased its holdings in PrimeEnergy by 78.7% during the 4th quarter. State of Wyoming now owns 168 shares of the oil and natural gas company’s stock valued at $29,000 after acquiring an additional 74 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of PrimeEnergy by 1.5% in the first quarter. Janney Montgomery Scott LLC now owns 8,061 shares of the oil and natural gas company’s stock valued at $1,877,000 after purchasing an additional 121 shares in the last quarter. Barclays PLC lifted its holdings in shares of PrimeEnergy by 33.8% in 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 grew its position in shares of 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 valued at $1,624,000 after purchasing an additional 196 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of 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 valued at $82,000 after purchasing an additional 205 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PNRG shares. Freedom Capital upgraded shares of PrimeEnergy from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Weiss Ratings restated a “hold (c)” rating on shares of PrimeEnergy in a research report on Wednesday, June 24th. Finally, Wall Street Zen lowered PrimeEnergy from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

View Our Latest Stock Report on PNRG

About PrimeEnergy

(Get Free Report)

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.

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