PrimeEnergy (NASDAQ:PNRG) Receives "Hold (C+)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed PrimeEnergy's stock rating as "Hold (C+)," while Wall Street Zen downgraded it from "hold" to "sell."
• PrimeEnergy's stock recently closed down 2.2%, with a market capitalization of $258.21 million and a P/E ratio of 10.52.
• In the second quarter, several institutional investors increased their holdings in PrimeEnergy, with Qube Research & Technologies Ltd purchasing a stake worth approximately $1.89 million.

PrimeEnergy (NASDAQ:PNRG - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen cut PrimeEnergy from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold".

PrimeEnergy Stock Down 2.2%

PNRG opened at $156.49 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $258.21 million, a price-to-earnings ratio of 10.52 and a beta of 0.20. The business has a 50-day moving average of $159.80 and a two-hundred day moving average of $165.47. PrimeEnergy has a 12 month low of $138.18 and a 12 month high of $243.49.

PrimeEnergy (NASDAQ:PNRG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 19th. The oil and natural gas company reported $1.33 EPS for the quarter. The company had revenue of $41.98 million during the quarter. PrimeEnergy had a return on equity of 17.98% and a net margin of 16.54%.

Institutional Trading of PrimeEnergy

A number of institutional investors have recently modified their holdings of PNRG. Qube Research & Technologies Ltd purchased a new stake in shares of PrimeEnergy during the 2nd quarter worth about $1,894,000. Marex Group plc purchased a new stake in shares of PrimeEnergy during the 2nd quarter worth about $1,317,000. American Century Companies Inc. grew its holdings in shares of PrimeEnergy by 118.4% during the 1st quarter. American Century Companies Inc. now owns 15,877 shares of the oil and natural gas company's stock worth $3,618,000 after purchasing an additional 8,607 shares during the period. Quantbot Technologies LP grew its holdings in shares of PrimeEnergy by 51,768.8% during the 2nd quarter. Quantbot Technologies LP now owns 8,299 shares of the oil and natural gas company's stock worth $1,215,000 after purchasing an additional 8,283 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of PrimeEnergy by 18.4% during the 1st quarter. Invesco Ltd. now owns 34,084 shares of the oil and natural gas company's stock worth $7,767,000 after purchasing an additional 5,294 shares during the period.

About PrimeEnergy

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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