Informed Momentum Co LLC Sells 1,673 Shares of PrimeEnergy Corporation (NASDAQ:PNRG)

Key Points

• Informed Momentum Co LLC has significantly reduced its stake in PrimeEnergy Corporation by 38.1%, selling 1,673 shares, and now owns 2,721 shares valued at approximately $620,000.
• PrimeEnergy's stock price increased by 3.9% recently, with a market cap of $294.88 million and a P/E ratio of 8.33.
• Major shareholder Rothschild Robert De sold 4,389 shares for approximately $825,176, which decreased their ownership position by 1.85%.

Informed Momentum Co LLC lowered its position in shares of PrimeEnergy Corporation (NASDAQ:PNRG - Free Report) by 38.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,721 shares of the oil and natural gas company's stock after selling 1,673 shares during the period. Informed Momentum Co LLC owned approximately 0.16% of PrimeEnergy worth $620,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of PrimeEnergy by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 425 shares of the oil and natural gas company's stock valued at $93,000 after acquiring an additional 81 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in PrimeEnergy in the fourth quarter worth approximately $207,000. Ellevest Inc. purchased a new stake in PrimeEnergy in the fourth quarter worth approximately $241,000. GAMMA Investing LLC boosted its holdings in PrimeEnergy by 22,683.3% in the first quarter. GAMMA Investing LLC now owns 1,367 shares of the oil and natural gas company's stock worth $312,000 after purchasing an additional 1,361 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in PrimeEnergy by 458.4% in the fourth quarter. Lazard Asset Management LLC now owns 1,530 shares of the oil and natural gas company's stock worth $335,000 after purchasing an additional 1,256 shares during the last quarter.

Insider Transactions at PrimeEnergy

In other PrimeEnergy news, major shareholder Rothschild Robert De sold 1,767 shares of PrimeEnergy stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $187.00, for a total value of $330,429.00. Following the sale, the insider directly owned 230,757 shares in the company, valued at approximately $43,151,559. The trade was a 0.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 62.77% of the company's stock.

PrimeEnergy Stock Performance

Shares of PrimeEnergy stock traded down $13.66 on Friday, hitting $149.39. 76,122 shares of the company's stock were exchanged, compared to its average volume of 86,550. The company has a 50-day simple moving average of $159.35 and a 200-day simple moving average of $180.67. The stock has a market capitalization of $247.99 million, a PE ratio of 7.01 and a beta of 0.19. PrimeEnergy Corporation has a 1 year low of $122.49 and a 1 year high of $243.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.49 and a current ratio of 0.49.

PrimeEnergy (NASDAQ:PNRG - Get Free Report) last issued its quarterly earnings results on Monday, May 19th. The oil and natural gas company reported $3.72 earnings per share for the quarter. PrimeEnergy had a net margin of 21.73% and a return on equity of 26.67%. The business had revenue of $50.06 million for the 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.