PrimeEnergy (NASDAQ:PNRG) Director Clint Hurt Sells 2,000 Shares

Key Points

• Director Clint Hurt sold 2,000 shares on May 1 at $220.44 and now directly holds 91,737 shares (a 2.13% drop); he has sold a total of 22,000 shares in recent transactions this year for roughly $4.66 million.
• PNRG shares traded up to $228.64; the stock’s 50-day and 200-day simple moving averages are $213.90 and $183.75 respectively, with a market cap of $370.4M, a P/E of 21.05, and a 52-week range of $126.40–$249.50.
• PrimeEnergy reported quarterly EPS of $1.43 on $50.06M in revenue (net margin 13.92%, ROE 12.53%), while analysts’ consensus remains an average "Hold" rating despite at least one recent upgrade to "Buy."

PrimeEnergy Corporation (NASDAQ:PNRG - Get Free Report) Director Clint Hurt sold 2,000 shares of PrimeEnergy stock in a transaction on Friday, May 1st. The stock was sold at an average price of $220.44, for a total transaction of $440,880.00. Following the completion of the transaction, the director directly owned 91,737 shares of the company's stock, valued at $20,222,504.28. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Clint Hurt also recently made the following trade(s):

• On Friday, April 24th, Clint Hurt sold 10,000 shares of PrimeEnergy stock. The stock was sold at an average price of $230.92, for a total transaction of $2,309,200.00.
• On Friday, February 6th, Clint Hurt sold 8,936 shares of PrimeEnergy stock. The stock was sold at an average price of $191.58, for a total transaction of $1,711,958.88.
• On Thursday, February 5th, Clint Hurt sold 1,064 shares of PrimeEnergy stock. The stock was sold at an average price of $190.02, for a total transaction of $202,181.28.

PrimeEnergy Stock Performance

Shares of NASDAQ:PNRG traded up $12.21 on Monday, reaching $228.64. The company's stock had a trading volume of 60,342 shares, compared to its average volume of 63,317. The company has a 50-day simple moving average of $213.90 and a 200 day simple moving average of $183.75. The company has a market cap of $370.40 million, a P/E ratio of 21.05 and a beta of -0.15. PrimeEnergy Corporation has a 52-week low of $126.40 and a 52-week high of $249.50.

PrimeEnergy (NASDAQ:PNRG - Get Free Report) last released its earnings results on Thursday, April 16th. The oil and natural gas company reported $1.43 earnings per share (EPS) for the quarter. The firm had revenue of $50.06 million during the quarter. PrimeEnergy had a net margin of 13.92% and a return on equity of 12.53%.

Institutional Investors Weigh In On PrimeEnergy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming lifted its holdings in PrimeEnergy by 78.7% during the 4th quarter. State of Wyoming now owns 168 shares of the oil and natural gas company's stock valued at $29,000 after buying an additional 74 shares in the last quarter. Quarry LP bought a new stake in PrimeEnergy during the 3rd quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new stake in PrimeEnergy during the 3rd quarter valued at about $44,000. Flagship Harbor Advisors LLC bought a new stake in PrimeEnergy during the 4th quarter valued at about $52,000. Finally, CWM LLC lifted its holdings in PrimeEnergy by 673.6% during the 3rd quarter. CWM LLC now owns 410 shares of the oil and natural gas company's stock valued at $68,000 after buying an additional 357 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a "hold (c)" rating on shares of PrimeEnergy in a report on Friday, March 27th. Wall Street Zen upgraded shares of PrimeEnergy from a "hold" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold".

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. 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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