Clint Hurt Sells 1,800 Shares of PrimeEnergy (NASDAQ:PNRG) Stock

PrimeEnergy Corporation (NASDAQ:PNRG) Director Clint Hurt sold 1,800 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $221.52, for a total transaction of $398,736.00. Following the sale, the director directly owned 79,937 shares in the company, valued at $17,707,644.24. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, August 25th, Clint Hurt sold 8,007 shares of PrimeEnergy stock. The stock was sold at an average price of $201.29, for a total transaction of $1,611,729.03.
• On Monday, August 24th, Clint Hurt sold 1,993 shares of PrimeEnergy stock. The stock was sold at an average price of $208.09, for a total transaction of $414,723.37.

PrimeEnergy Stock Performance

NASDAQ:PNRG opened at $217.35 on Friday. The stock’s fifty day moving average price is $192.83 and its two-hundred day moving average price is $204.27. PrimeEnergy Corporation has a 52-week low of $126.40 and a 52-week high of $278.90. The company has a market cap of $343.41 million, a price-to-earnings ratio of 20.94 and a beta of -0.24.

PrimeEnergy (NASDAQ:PNRG) last released its earnings results on Friday, August 14th. The oil and natural gas company reported $2.75 EPS for the quarter, missing the consensus estimate of $5.90 by ($3.15). The firm had revenue of $50.40 million during the quarter, compared to analyst estimates of $50.40 million. PrimeEnergy had a net margin of 13.87% and a return on equity of 11.47%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen cut PrimeEnergy from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a research report on Wednesday, June 24th. Finally, Freedom Capital raised shares of PrimeEnergy from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PNRG. AQR Capital Management LLC lifted its stake in PrimeEnergy by 286.2% in the first quarter. AQR Capital Management LLC now owns 6,897 shares of the oil and natural gas company’s stock valued at $1,572,000 after buying an additional 5,111 shares during the period. Empowered Funds LLC grew its position in shares of 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 buying an additional 541 shares during the period. Rhumbline Advisers grew its position in shares of PrimeEnergy by 99.3% during the 2nd quarter. Rhumbline Advisers now owns 1,373 shares of the oil and natural gas company’s stock worth $201,000 after buying an additional 684 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of PrimeEnergy by 16.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 16,719 shares of the oil and natural gas company’s stock valued at $2,447,000 after acquiring an additional 2,374 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of PrimeEnergy in the 2nd quarter valued at about $1,894,000.

PrimeEnergy Company Profile

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.