PrimeEnergy (NASDAQ:PNRG) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• PrimeEnergy Corporation's stock price recently crossed above its 200-day moving average, reaching a high of $175.97, but last traded at $171.76.
• Wall Street analysts downgraded PrimeEnergy from a "hold" to a "sell" rating, indicating a potential negative outlook on the stock.
• The company reported earnings of $1.33 per share for the last quarter, with revenue of $41.98 million and a net margin of 16.54%.

PrimeEnergy Corporation (NASDAQ:PNRG - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $173.34 and traded as high as $175.97. PrimeEnergy shares last traded at $171.76, with a volume of 46,863 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of PrimeEnergy from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd.

PrimeEnergy Price Performance

The company's fifty day moving average price is $162.20 and its 200 day moving average price is $172.89. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $281.47 million, a P/E ratio of 11.47 and a beta of 0.20.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PNRG. Meeder Asset Management Inc. increased its stake in shares of PrimeEnergy by 1,879.1% in the 1st quarter. Meeder Asset Management Inc. now owns 1,702 shares of the oil and natural gas company's stock valued at $388,000 after purchasing an additional 1,616 shares during the last quarter. Ameriprise Financial Inc. bought a new position in PrimeEnergy in the fourth quarter valued at about $530,000. Bank of New York Mellon Corp raised its stake in PrimeEnergy by 69.6% during the first quarter. Bank of New York Mellon Corp now owns 1,896 shares of the oil and natural gas company's stock worth $432,000 after acquiring an additional 778 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of PrimeEnergy by 22,683.3% in the first quarter. GAMMA Investing LLC now owns 1,367 shares of the oil and natural gas company's stock worth $312,000 after acquiring an additional 1,361 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in PrimeEnergy during the 4th quarter worth approximately $207,000.

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.