Separately, ValuEngine raised PrimeEnergy from a “sell” rating to a “hold” rating in a research note on Wednesday, April 18th.
PNRG opened at $66.50 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.47. The company has a market cap of $139.50 million, a price-to-earnings ratio of 9.97 and a beta of -0.10. PrimeEnergy has a 52 week low of $40.00 and a 52 week high of $70.30.
A hedge fund recently bought a new stake in PrimeEnergy stock. Fondren Management LP bought a new position in shares of PrimeEnergy Co. (NASDAQ:PNRG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,778 shares of the oil and natural gas company’s stock, valued at approximately $298,000. Fondren Management LP owned approximately 0.27% of PrimeEnergy at the end of the most recent quarter. 2.43% of the stock is owned by institutional investors and hedge funds.
PrimeEnergy Corporation, an independent oil and natural gas company, through its subsidiaries, engages in acquiring, developing, and producing oil and natural gas properties in the United States. 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 operations, site-preparation, and construction services for oil and gas drilling and reworking operations.
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