PrimeEnergy (NASDAQ:PNRG) Upgraded by Wall Street Zen to "Buy" Rating

Key Points

• Wall Street Zen upgraded PrimeEnergy (NASDAQ:PNRG) from a "hold" to a Buy, while Weiss Ratings and the MarketBeat consensus still rate the stock as "Hold."
• Corporate insiders sold a total of 34,423 shares (about $7.51M) in the last quarter — including Director Clint Hurt (10,000 shares at $230.92) and major shareholder Rothschild Robert De (13,274 shares at $231.60) — though insiders continue to own 62.77% of the company.
• PrimeEnergy reported quarterly EPS of $1.43 on $50.06M revenue with a 13.92% net margin; the stock trades near $216, has a market cap of $350.6M, a PE of 19.93, and a 52-week range of $126.40–$249.50.

PrimeEnergy (NASDAQ:PNRG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings restated a "hold (c)" rating on shares of PrimeEnergy in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, PrimeEnergy presently has a consensus rating of "Hold".

PrimeEnergy Price Performance

PNRG stock opened at $216.43 on Friday. The company has a 50 day moving average price of $213.90 and a 200 day moving average price of $183.43. PrimeEnergy has a fifty-two week low of $126.40 and a fifty-two week high of $249.50. The stock has a market capitalization of $350.62 million, a PE ratio of 19.93 and a beta of -0.15.

PrimeEnergy (NASDAQ:PNRG - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The oil and natural gas company reported $1.43 earnings per share for the quarter. PrimeEnergy had a net margin of 13.92% and a return on equity of 12.53%. The firm had revenue of $50.06 million during the quarter.

Insider Buying and Selling at PrimeEnergy

In other PrimeEnergy news, Director Clint Hurt sold 10,000 shares of the company's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $230.92, for a total transaction of $2,309,200.00. Following the completion of the sale, the director owned 93,737 shares in the company, valued at approximately $21,645,748.04. The trade was a 9.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Rothschild Robert De sold 13,274 shares of the company's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $231.60, for a total transaction of $3,074,258.40. Following the sale, the insider owned 187,483 shares of the company's stock, valued at $43,421,062.80. The trade was a 6.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,423 shares of company stock valued at $7,512,174 in the last quarter. Corporate insiders own 62.77% of the company's stock.

Institutional Trading of PrimeEnergy

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of PrimeEnergy by 6,756.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,210 shares of the oil and natural gas company's stock valued at $2,875,000 after acquiring an additional 16,959 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of PrimeEnergy during the 3rd quarter valued at $916,000. Centiva Capital LP bought a new stake in shares of PrimeEnergy during the 3rd quarter valued at $523,000. Cannell Capital LLC raised its position in shares of PrimeEnergy by 44.3% during the 3rd quarter. Cannell Capital LLC now owns 9,670 shares of the oil and natural gas company's stock valued at $1,615,000 after acquiring an additional 2,968 shares during the last quarter. Finally, SummerHaven Investment Management LLC bought a new stake in shares of PrimeEnergy during the 3rd quarter valued at $862,000.

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. 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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