Short Interest in PrimeEnergy Corporation (NASDAQ:PNRG) Expands By 23.0%

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

PrimeEnergy Stock Up 3.8%

NASDAQ PNRG traded up $5.63 during trading on Friday, reaching $153.31. 185,393 shares of the company's stock traded hands, compared to its average volume of 21,432. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.49 and a quick ratio of 0.49. The firm has a market cap of $254.49 million, a price-to-earnings ratio of 7.19 and a beta of 0.24. The company's 50 day simple moving average is $171.17 and its two-hundred day simple moving average is $192.34. PrimeEnergy has a 12-month low of $104.62 and a 12-month high of $243.49.

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PNRG. Wells Fargo & Company MN grew its position in shares of PrimeEnergy by 23.5% in the 4th quarter. Wells Fargo & Company MN now owns 425 shares of the oil and natural gas company's stock worth $93,000 after buying an additional 81 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of PrimeEnergy in the 1st quarter worth approximately $93,000. Great Lakes Advisors LLC purchased a new position in shares of PrimeEnergy in the 4th quarter worth approximately $203,000. Nuveen Asset Management LLC purchased a new position in shares of PrimeEnergy in the 4th quarter worth approximately $207,000. Finally, Ellevest Inc. purchased a new position in shares of PrimeEnergy in the 4th quarter worth approximately $241,000.

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.