PrimeEnergy (NASDAQ:PNRG) Share Price Passes Above 200-Day Moving Average - Time to Sell?

Key Points

• Price breakout: Shares of PrimeEnergy (PNRG) crossed above their 200‑day moving average of $175.57, trading as high as $242.11 and last at $232.85 on volume of 103,902.
• Significant insider selling: Director Clint Hurt and major shareholder Rothschild Robert De sold notable stakes (insiders sold 40,000 shares worth $7.43M in the quarter), though insiders still hold 62.77% of the company.
• Analyst stance and valuation: Weiss Ratings reaffirmed a "Hold" and the MarketBeat consensus is "Hold"; the company has a market cap of $379.55M and a PE ratio of 22.28, with a 50‑day SMA of $196.51.

Shares of PrimeEnergy Corporation (NASDAQ:PNRG - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $175.57 and traded as high as $242.11. PrimeEnergy shares last traded at $232.85, with a volume of 103,902 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of PrimeEnergy in a report on Friday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

PrimeEnergy Price Performance

The stock has a market capitalization of $379.55 million, a PE ratio of 22.28 and a beta of -0.08. The firm's 50 day simple moving average is $196.51 and its 200 day simple moving average is $175.57.

Insider Activity

In other news, Director Clint Hurt sold 8,936 shares of PrimeEnergy stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $191.58, for a total value of $1,711,958.88. Following the transaction, the director owned 105,763 shares in the company, valued at approximately $20,262,075.54. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Rothschild Robert De sold 10,151 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $186.19, for a total value of $1,890,014.69. Following the sale, the insider directly owned 211,906 shares of the company's stock, valued at approximately $39,454,778.14. This trade represents a 4.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 40,000 shares of company stock worth $7,427,626. Company insiders own 62.77% of the company's stock.

Hedge Funds Weigh In On PrimeEnergy

A number of hedge funds have recently modified their holdings of the company. State of Wyoming raised its position 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 purchasing an additional 74 shares during the last quarter. Barclays PLC raised its holdings in shares of PrimeEnergy by 33.8% during the fourth quarter. Barclays PLC now owns 637 shares of the oil and natural gas company's stock valued at $109,000 after acquiring an additional 161 shares in the last quarter. Marex Group plc lifted its stake in 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 worth $1,624,000 after acquiring an additional 196 shares during the period. Wells Fargo & Company MN boosted its holdings in 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 acquiring an additional 205 shares in the last quarter. Finally, Quarry LP bought a new stake in PrimeEnergy in the third quarter valued at $38,000.

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. 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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