PrimeEnergy (NASDAQ:PNRG) Posts Earnings Results

Key Points

• PrimeEnergy (NASDAQ:PNRG) reported quarterly earnings of $1.33 EPS, with a net margin of 21.73% and a return on equity of 26.67%.
• Shares increased by 1.6% to reach $148.55, with the company having a market cap of $246.74 million.
• Institutional investors have been active, with significant stake increases from firms like State of Wyoming and Tower Research Capital, reflecting growing interest in the company.

PrimeEnergy (NASDAQ:PNRG - Get Free Report) announced its quarterly earnings data on Tuesday. The oil and natural gas company reported $1.33 earnings per share (EPS) for the quarter, Zacks reports. PrimeEnergy had a net margin of 21.73% and a return on equity of 26.67%.

PrimeEnergy Trading Up 1.6%

Shares of PrimeEnergy stock traded up $2.38 during trading on Tuesday, reaching $148.55. The company's stock had a trading volume of 38,047 shares, compared to its average volume of 54,395. The firm's 50-day moving average is $159.25 and its two-hundred day moving average is $179.81. PrimeEnergy has a 52-week low of $122.49 and a 52-week high of $243.49. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.03. The company has a market cap of $246.74 million, a price-to-earnings ratio of 6.97 and a beta of 0.19.

Insider Buying and Selling

In related news, major shareholder Rothschild Robert De sold 1,767 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $187.00, for a total transaction of $330,429.00. Following the completion of the sale, the insider directly owned 230,757 shares in the company, valued at $43,151,559. This represents a 0.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 62.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PrimeEnergy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming raised its holdings in PrimeEnergy by 62.7% during the 2nd quarter. State of Wyoming now owns 423 shares of the oil and natural gas company's stock valued at $62,000 after buying an additional 163 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in PrimeEnergy by 571.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 477 shares of the oil and natural gas company's stock valued at $70,000 after buying an additional 406 shares during the last quarter. Rhumbline Advisers raised its holdings in PrimeEnergy by 99.3% during the 2nd quarter. Rhumbline Advisers now owns 1,373 shares of the oil and natural gas company's stock valued at $201,000 after buying an additional 684 shares during the last quarter. Jane Street Group LLC bought a new stake in PrimeEnergy during the 2nd quarter valued at $307,000. Finally, Engineers Gate Manager LP bought a new stake in PrimeEnergy during the 2nd quarter valued at $749,000.

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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