PrimeEnergy (NASDAQ:PNRG) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• PrimeEnergy Corporation's stock price has recently crossed above its 200-day moving average of $170.31, indicating potential trends in trading behavior.
• Analyst ratings for PrimeEnergy have shifted, with Wall Street Zen downgrading the stock from "hold" to "sell," while Weiss Ratings maintained a "hold" rating.
• The company reported a net margin of 16.54% and EPS of $1.33, indicating solid financial performance for the recent quarter.

PrimeEnergy Corporation (NASDAQ:PNRG - Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $170.31 and traded as high as $171.24. PrimeEnergy shares last traded at $164.47, with a volume of 197,888 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of PrimeEnergy from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of PrimeEnergy in a research report on Wednesday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, PrimeEnergy presently has a consensus rating of "Hold".

PrimeEnergy Stock Performance

The stock has a market capitalization of $271.38 million, a price-to-earnings ratio of 11.06 and a beta of 0.20. 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 stock's 50-day simple moving average is $162.24 and its 200 day simple moving average is $170.31.

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

Hedge Funds Weigh In On PrimeEnergy

A number of institutional investors have recently modified their holdings of PNRG. MetLife Investment Management LLC bought a new stake in shares of PrimeEnergy during the first quarter worth approximately $93,000. State of Wyoming grew its holdings in PrimeEnergy by 62.7% during the second quarter. State of Wyoming now owns 423 shares of the oil and natural gas company's stock valued at $62,000 after purchasing an additional 163 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of PrimeEnergy by 571.8% in the second 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 period. GAMMA Investing LLC boosted its holdings in PrimeEnergy by 22,683.3% during the first quarter. GAMMA Investing LLC now owns 1,367 shares of the oil and natural gas company's stock worth $312,000 after purchasing an additional 1,361 shares during the last quarter. Finally, Rhumbline Advisers raised its position in PrimeEnergy by 99.3% during the second quarter. Rhumbline Advisers now owns 1,373 shares of the oil and natural gas company's stock worth $201,000 after acquiring an additional 684 shares in the last quarter.

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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