Navellier & Associates Inc. Invests $478,000 in PrimeEnergy Corporation (NASDAQ:PNRG)

Key Points

• Navellier & Associates Inc. has purchased a new stake in PrimeEnergy Corporation worth approximately $478,000 during the 1st quarter, holding about 0.13% of the company's stock.
• Other hedge funds have also shown increased interest, with notable transactions including a 23.5% increase in holdings by Wells Fargo and a substantial 22,683.3% increase by GAMMA Investing LLC.
• Insider trading was noted as major shareholder Rothschild Robert De sold 4,389 shares for about $825,175, while insiders currently own approximately 62.77% of the company.

Navellier & Associates Inc. bought a new position in shares of PrimeEnergy Corporation (NASDAQ:PNRG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,097 shares of the oil and natural gas company's stock, valued at approximately $478,000. Navellier & Associates Inc. owned 0.13% of PrimeEnergy as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. bought a new stake in shares of PrimeEnergy in the 4th quarter worth approximately $6,322,000. American Century Companies Inc. boosted its position in shares of PrimeEnergy by 363.6% in the 4th quarter. American Century Companies Inc. now owns 7,270 shares of the oil and natural gas company's stock worth $1,596,000 after purchasing an additional 5,702 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in shares of PrimeEnergy by 73.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 12,449 shares of the oil and natural gas company's stock worth $2,734,000 after purchasing an additional 5,270 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in PrimeEnergy during the 4th quarter valued at $815,000. Finally, Ritholtz Wealth Management purchased a new stake in PrimeEnergy during the 1st quarter valued at $841,000.

PrimeEnergy Stock Performance

PNRG traded down $7.87 during mid-day trading on Wednesday, reaching $174.13. 19,450 shares of the company traded hands, compared to its average volume of 49,784. The stock has a market capitalization of $289.06 million, a P/E ratio of 8.14 and a beta of 0.17. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.03. The company's fifty day moving average price is $162.99 and its 200-day moving average price is $184.90. PrimeEnergy Corporation has a 52-week low of $105.03 and a 52-week high of $243.49.

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

Insider Activity at PrimeEnergy

In other news, major shareholder Rothschild Robert De sold 1,767 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $187.00, for a total value of $330,429.00. Following the completion of the sale, the insider directly owned 230,757 shares in the company, valued at $43,151,559. This represents a 0.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 62.77% of the stock is owned by company insiders.

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.