PrimeEnergy (NASDAQ:PNRG) Upgraded by Freedom Capital to “Hold” Rating

Freedom Capital upgraded shares of PrimeEnergy (NASDAQ:PNRG) from a strong sell rating to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a research note on Wednesday, June 24th. Wall Street Zen downgraded PrimeEnergy from a “buy” rating to a “hold” rating in a research note on Sunday, May 31st. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

PrimeEnergy Trading Up 1.0%

Shares of PNRG stock opened at $212.71 on Monday. The firm has a fifty day simple moving average of $184.00 and a two-hundred day simple moving average of $201.93. PrimeEnergy has a 12 month low of $126.40 and a 12 month high of $278.90. The firm has a market capitalization of $344.59 million, a PE ratio of 20.49 and a beta of -0.27.

PrimeEnergy (NASDAQ:PNRG) last issued its quarterly earnings data on Friday, August 14th. The oil and natural gas company reported $2.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.90 by ($3.15). The business had revenue of $50.40 million for the quarter, compared to analyst estimates of $50.40 million. PrimeEnergy had a net margin of 13.87% and a return on equity of 11.51%.

Institutional Trading of PrimeEnergy

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of PrimeEnergy by 9.6% during the first quarter. Dimensional Fund Advisors LP now owns 78,872 shares of the oil and natural gas company’s stock valued at $18,366,000 after purchasing an additional 6,902 shares in the last quarter. Millennium Management LLC grew 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 worth $8,716,000 after purchasing an additional 30,718 shares in the last quarter. BNP Paribas Financial Markets grew its position in PrimeEnergy by 690.7% in the 4th quarter. BNP Paribas Financial Markets now owns 36,546 shares of the oil and natural gas company’s stock worth $6,249,000 after purchasing an additional 31,924 shares in the last quarter. Vanguard Group Inc. increased its stake in PrimeEnergy by 60.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,258 shares of the oil and natural gas company’s stock valued at $4,219,000 after buying an additional 9,522 shares during the last quarter. Finally, Invesco Ltd. increased its stake in PrimeEnergy by 537.6% in the 4th quarter. Invesco Ltd. now owns 19,950 shares of the oil and natural gas company’s stock valued at $3,411,000 after buying an additional 16,821 shares during the last quarter.

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.