Strs Ohio Buys Shares of 2,200 PrimeEnergy Corporation $PNRG

Key Points

• Strs Ohio acquired a new stake in PrimeEnergy Corporation, purchasing 2,200 shares valued at approximately $501,000. This increased their ownership to 0.13% of the company.
• Multiple institutional investors made significant changes to their positions in PrimeEnergy, with Meeder Asset Management increasing its stake by 1,879.1% during the first quarter.
• PrimeEnergy's stock was downgraded from a "hold" rating to a "sell" rating by Wall Street Zen as of August 22nd, and its stock price has recently decreased by 3.6%.

Strs Ohio bought a new position in PrimeEnergy Corporation (NASDAQ:PNRG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,200 shares of the oil and natural gas company's stock, valued at approximately $501,000. Strs Ohio owned about 0.13% of PrimeEnergy at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC acquired a new stake in shares of PrimeEnergy during the 1st quarter worth approximately $93,000. Nuveen Asset Management LLC bought a new stake in PrimeEnergy in the 4th quarter valued at about $207,000. GAMMA Investing LLC lifted 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 worth $312,000 after buying an additional 1,361 shares during the last quarter. Victory Capital Management Inc. lifted its position in PrimeEnergy by 14.9% in the 1st quarter. Victory Capital Management Inc. now owns 1,536 shares of the oil and natural gas company's stock worth $350,000 after buying an additional 199 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in PrimeEnergy by 1,879.1% in the first quarter. Meeder Asset Management Inc. now owns 1,702 shares of the oil and natural gas company's stock valued at $388,000 after purchasing an additional 1,616 shares during the last quarter.

PrimeEnergy Stock Performance

PNRG stock traded up $5.07 during trading on Monday, reaching $170.59. The stock had a trading volume of 25,239 shares, compared to its average volume of 63,541. PrimeEnergy Corporation has a 52 week low of $137.26 and a 52 week high of $243.49. The stock's 50 day moving average is $162.03 and its two-hundred day moving average is $173.01. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.06. The firm has a market cap of $281.47 million, a PE ratio of 11.47 and a beta of 0.20.

PrimeEnergy (NASDAQ:PNRG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 19th. The oil and natural gas company reported $1.33 EPS 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 for the quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded PrimeEnergy from a "hold" rating to a "sell" rating in a report 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.