PrimeEnergy (NASDAQ:PNRG) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

PrimeEnergy Corporation (NASDAQ:PNRG)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $170.31 and traded as high as $171.24. PrimeEnergy shares last traded at $164.47, with a volume of 197,888 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PNRG. Wall Street Zen downgraded shares of PrimeEnergy from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PrimeEnergy in a report on Wednesday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, PrimeEnergy presently has a consensus rating of “Hold”.

PrimeEnergy Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market cap of $271.38 million, a PE ratio of 11.06 and a beta of 0.20. The firm has a 50-day simple moving average of $162.24 and a 200 day simple moving average of $170.31.

PrimeEnergy (NASDAQ:PNRG) last issued its quarterly earnings results on Tuesday, August 19th. The oil and natural gas company reported $1.33 earnings per share for the quarter. PrimeEnergy had a return on equity of 17.98% and a net margin of 16.54%.The firm had revenue of $41.98 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PNRG. MetLife Investment Management LLC purchased a new position in PrimeEnergy in the 1st quarter worth approximately $93,000. State of Wyoming raised its holdings in PrimeEnergy by 62.7% during the 2nd quarter. State of Wyoming now owns 423 shares of the oil and natural gas company’s stock valued at $62,000 after buying an additional 163 shares during the period. Tower Research Capital LLC TRC grew its position in PrimeEnergy by 571.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 477 shares of the oil and natural gas company’s stock valued at $70,000 after acquiring an additional 406 shares during the last quarter. GAMMA Investing LLC grew its position in PrimeEnergy by 22,683.3% in the 1st quarter. GAMMA Investing LLC now owns 1,367 shares of the oil and natural gas company’s stock valued at $312,000 after acquiring an additional 1,361 shares during the last quarter. Finally, 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 in the last quarter.

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.