JPMorgan Chase & Co. Has $2.88 Million Stock Position in PrimeEnergy Corporation $PNRG

Key Points

• JPMorgan Chase boosted its stake in PrimeEnergy (PNRG) by 6,756.6% in Q3 to 17,210 shares, representing a 1.06% position valued at about $2.88 million.
• Insiders have been selling recently: Director Clint Hurt sold 8,936 shares for roughly $1.71 million, and insiders disposed of 40,000 shares worth $7.43 million over the last 90 days, though insiders still own 62.77% of the stock.
• PNRG shares opened at $234.16 with a 12‑month range of $126.40–$244.62, a market cap of $381.7 million and a P/E of 22.41, and analysts' consensus rating is a Hold.

JPMorgan Chase & Co. increased its holdings in shares of PrimeEnergy Corporation (NASDAQ:PNRG - Free Report) by 6,756.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 17,210 shares of the oil and natural gas company's stock after purchasing an additional 16,959 shares during the period. JPMorgan Chase & Co. owned 1.06% of PrimeEnergy worth $2,875,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of PrimeEnergy in the third quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of PrimeEnergy during the 3rd quarter worth approximately $44,000. State of Wyoming increased its holdings in shares of PrimeEnergy by 62.7% during the 2nd quarter. State of Wyoming now owns 423 shares of the oil and natural gas company's stock worth $62,000 after acquiring an additional 163 shares during the last quarter. CWM LLC raised its stake in PrimeEnergy by 673.6% in the 3rd quarter. CWM LLC now owns 410 shares of the oil and natural gas company's stock valued at $68,000 after acquiring an additional 357 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in PrimeEnergy by 571.8% during 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 purchasing an additional 406 shares during the last quarter.

Insider Buying and Selling at PrimeEnergy

In related news, Director Clint Hurt sold 8,936 shares of the business's stock in a transaction on Friday, February 6th. The stock was sold at an average price of $191.58, for a total value of $1,711,958.88. Following the completion of the sale, the director directly owned 105,763 shares in the company, valued at $20,262,075.54. The trade was a 7.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Rothschild Robert De sold 1,149 shares of the company's stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $186.75, for a total value of $214,575.75. Following the completion of the transaction, the insider directly owned 200,757 shares in the company, valued at approximately $37,491,369.75. This represents a 0.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,000 shares of company stock valued at $7,427,626 over the last 90 days. 62.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of PrimeEnergy in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, PrimeEnergy has a consensus rating of "Hold".

PrimeEnergy Price Performance

Shares of PNRG stock opened at $234.16 on Monday. PrimeEnergy Corporation has a 12-month low of $126.40 and a 12-month high of $244.62. The company has a market capitalization of $381.68 million, a PE ratio of 22.41 and a beta of -0.18. The firm has a 50 day moving average price of $200.11 and a two-hundred day moving average price of $176.83.

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. 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.

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