PrimeEnergy (NASDAQ:PNRG) Major Shareholder Sells $1,890,014.69 in Stock

PrimeEnergy Corporation (NASDAQ:PNRG) major shareholder Rothschild Robert De sold 10,151 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $186.19, for a total value of $1,890,014.69. Following the transaction, the insider directly owned 211,906 shares of the company’s stock, valued at approximately $39,454,778.14. This represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% 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 Friday, January 30th, Rothschild Robert De sold 10,000 shares of PrimeEnergy stock. The shares were sold at an average price of $181.81, for a total value of $1,818,100.00.
• 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 value of $1,590,795.00.

PrimeEnergy Price Performance

PrimeEnergy stock opened at $191.00 on Thursday. The firm has a market cap of $311.33 million, a P/E ratio of 18.28 and a beta of -0.03. The stock’s 50 day moving average is $176.92 and its 200 day moving average is $164.44. PrimeEnergy Corporation has a one year low of $126.40 and a one year 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. PrimeEnergy had a net margin of 12.69% and a return on equity of 12.19%. The firm had revenue of $44.66 million during the quarter.

Hedge Funds Weigh In On PrimeEnergy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in PrimeEnergy by 8.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 65,483 shares of the oil and natural gas company’s stock valued at $10,936,000 after buying an additional 4,994 shares in the last quarter. Millennium Management LLC grew its stake in PrimeEnergy by 143.1% in the third 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 during the period. Vanguard Group Inc. increased its holdings in shares of PrimeEnergy by 60.5% during the third quarter. Vanguard Group Inc. now owns 25,258 shares of the oil and natural gas company’s stock valued at $4,219,000 after acquiring an additional 9,522 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of PrimeEnergy by 6,756.6% during the third quarter. JPMorgan Chase & Co. now owns 17,210 shares of the oil and natural gas company’s stock worth $2,875,000 after purchasing an additional 16,959 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of PrimeEnergy by 5.7% in the 2nd quarter. American Century Companies Inc. now owns 16,778 shares of the oil and natural gas company’s stock worth $2,456,000 after purchasing an additional 901 shares in the last quarter.

Analyst Upgrades and Downgrades

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

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.