PrimeEnergy (NASDAQ:PNRG) Director Sells $2,309,200.00 in Stock

Key Points

• Director Clint Hurt sold 10,000 shares on April 24 at an average price of $230.92, generating $2,309,200, and now directly owns 93,737 shares (a 9.64% reduction in his position).
• PNRG stock traded down about 4.7% to $219.21 (down $10.79) with 69,629 shares changing hands versus an average volume of 63,575; market cap is about $355.1 million and the 12‑month range is $126.40–$249.50.
• PrimeEnergy reported $1.43 EPS on $50.06 million of quarterly revenue, with a net margin of 13.92% and ROE of 12.53%, and the consensus analyst rating remains a Hold.

PrimeEnergy Corporation (NASDAQ:PNRG - Get Free Report) Director Clint Hurt sold 10,000 shares of the company's stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $230.92, for a total transaction of $2,309,200.00. Following the completion of the sale, the director directly owned 93,737 shares of the company's stock, valued at $21,645,748.04. This represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, February 6th, Clint Hurt sold 8,936 shares of PrimeEnergy stock. The shares were 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 Down 4.7%

PNRG stock traded down $10.79 during mid-day trading on Monday, hitting $219.21. 69,629 shares of the company were exchanged, compared to its average volume of 63,575. The firm has a market capitalization of $355.12 million, a P/E ratio of 20.19 and a beta of -0.18. The business has a fifty day simple moving average of $210.48 and a 200-day simple moving average of $182.10. PrimeEnergy Corporation has a 12-month low of $126.40 and a 12-month high of $249.50.

PrimeEnergy (NASDAQ:PNRG - Get Free Report) last announced its earnings results on Thursday, April 16th. The oil and natural gas company reported $1.43 earnings per share for the quarter. The company 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming boosted its stake in shares of PrimeEnergy by 78.7% in the fourth quarter. State of Wyoming now owns 168 shares of the oil and natural gas company's stock valued at $29,000 after purchasing an additional 74 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of PrimeEnergy by 1.5% in the first quarter. Janney Montgomery Scott LLC now owns 8,061 shares of the oil and natural gas company's stock valued at $1,877,000 after purchasing an additional 121 shares during the period. Barclays PLC boosted its stake in shares of PrimeEnergy by 33.8% in the fourth quarter. Barclays PLC now owns 637 shares of the oil and natural gas company's stock valued at $109,000 after purchasing an additional 161 shares during the period. Marex Group plc boosted its stake in shares of PrimeEnergy by 2.1% in the fourth quarter. Marex Group plc now owns 9,496 shares of the oil and natural gas company's stock valued at $1,624,000 after purchasing an additional 196 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of PrimeEnergy by 74.8% in the fourth quarter. Wells Fargo & Company MN now owns 479 shares of the oil and natural gas company's stock valued at $82,000 after purchasing an additional 205 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of PrimeEnergy in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus 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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