PrimeEnergy Corporation (NASDAQ:PNRG) Short Interest Update

PrimeEnergy Corporation (NASDAQ:PNRG - Get Free Report) was the target of a large increase in short interest in May. As of May 31st, there was short interest totalling 36,900 shares, an increase of 23.0% from the May 15th total of 30,000 shares. Approximately 6.3% of the company's shares are sold short. Based on an average daily trading volume, of 46,100 shares, the short-interest ratio is currently 0.8 days.

PrimeEnergy Stock Down 1.4%

Shares of PrimeEnergy stock traded down $2.11 on Wednesday, hitting $147.68. The company had a trading volume of 109,697 shares, compared to its average volume of 20,566. The stock has a 50-day moving average of $173.86 and a 200-day moving average of $193.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.49 and a quick ratio of 0.49. PrimeEnergy has a twelve month low of $104.56 and a twelve month high of $243.49. The firm has a market capitalization of $245.15 million, a P/E ratio of 6.93 and a beta of 0.24.

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

Insider Activity at PrimeEnergy

In other PrimeEnergy news, major shareholder Rothschild Robert De sold 4,389 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $188.01, for a total transaction of $825,175.89. Following the sale, the insider now directly owns 232,524 shares in the company, valued at approximately $43,716,837.24. This trade represents a 1.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 62.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PrimeEnergy

A number of hedge funds and other institutional investors have recently bought and sold shares of PNRG. Strs Ohio bought a new position in shares of PrimeEnergy during the 1st quarter worth approximately $501,000. Empowered Funds LLC boosted its holdings in PrimeEnergy by 6.7% during the first quarter. Empowered Funds LLC now owns 8,649 shares of the oil and natural gas company's stock worth $1,971,000 after purchasing an additional 541 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in PrimeEnergy by 4.3% in the 1st quarter. Bridgeway Capital Management LLC now owns 12,990 shares of the oil and natural gas company's stock valued at $2,960,000 after buying an additional 541 shares during the last quarter. AQR Capital Management LLC increased its stake in PrimeEnergy by 286.2% in the 1st quarter. AQR Capital Management LLC now owns 6,897 shares of the oil and natural gas company's stock valued at $1,572,000 after buying an additional 5,111 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in PrimeEnergy during the 1st quarter worth about $93,000.

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.

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