American Century Companies Inc. Purchases 8,607 Shares of PrimeEnergy Corporation $PNRG

Key Points

• American Century Companies Inc. increased its stake in PrimeEnergy Corporation by 118.4% in Q1, owning 15,877 shares worth approximately $3.62 million.
• Several other institutional investors also raised their stakes in PrimeEnergy, with notable increases from Wells Fargo and Bridgeway Capital Management.
• PrimeEnergy’s stock performance showed a twelve-month high of $243.49, and analysts have downgraded the company from a "hold" to a "sell" rating.

American Century Companies Inc. grew its stake in PrimeEnergy Corporation (NASDAQ:PNRG - Free Report) by 118.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,877 shares of the oil and natural gas company's stock after purchasing an additional 8,607 shares during the period. American Century Companies Inc. owned about 0.95% of PrimeEnergy worth $3,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PNRG. Dimensional Fund Advisors LP boosted its position in PrimeEnergy by 8.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 35,812 shares of the oil and natural gas company's stock worth $7,865,000 after buying an additional 2,753 shares during the period. Invesco Ltd. increased its position in PrimeEnergy by 18.4% in the 1st quarter. Invesco Ltd. now owns 34,084 shares of the oil and natural gas company's stock valued at $7,767,000 after acquiring an additional 5,294 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of PrimeEnergy by 73.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 12,449 shares of the oil and natural gas company's stock valued at $2,734,000 after acquiring an additional 5,270 shares during the last quarter. Northern Trust Corp raised its stake in shares of PrimeEnergy by 4.7% during the fourth quarter. Northern Trust Corp now owns 10,425 shares of the oil and natural gas company's stock valued at $2,289,000 after acquiring an additional 464 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of PrimeEnergy during the first quarter valued at $841,000.

PrimeEnergy Trading Down 0.8%

Shares of PNRG stock traded down $1.25 during trading hours on Friday, hitting $152.60. 91,217 shares of the company's stock traded hands, compared to its average volume of 69,867. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.06. PrimeEnergy Corporation has a 12 month low of $122.49 and a 12 month high of $243.49. The stock's 50 day simple moving average is $159.85 and its 200 day simple moving average is $175.13. The stock has a market cap of $251.79 million, a PE ratio of 10.26 and a beta of 0.20.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of PrimeEnergy from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd.

PrimeEnergy 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.