Short Interest in PrimeEnergy Resources Co. (NASDAQ:PNRG) Declines By 20.0%

PrimeEnergy Resources Co. (NASDAQ:PNRGGet Free Report) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 2,800 shares, a drop of 20.0% from the April 15th total of 3,500 shares. Based on an average trading volume of 1,900 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.5% of the shares of the company are short sold.

PrimeEnergy Resources Stock Performance

PNRG stock traded up $0.10 on Wednesday, hitting $106.71. 1,127 shares of the company’s stock were exchanged, compared to its average volume of 1,888. PrimeEnergy Resources has a 12-month low of $83.00 and a 12-month high of $120.00. The firm has a 50 day moving average price of $101.34 and a two-hundred day moving average price of $102.01. The stock has a market cap of $191.01 million, a P/E ratio of 9.92 and a beta of 0.53.

PrimeEnergy Resources (NASDAQ:PNRGGet Free Report) last announced its earnings results on Monday, April 15th. The oil and natural gas company reported $2.28 earnings per share for the quarter. PrimeEnergy Resources had a return on equity of 18.66% and a net margin of 22.83%. The firm had revenue of $35.51 million for the quarter.

Insider Buying and Selling

In related news, Director Clint Hurt sold 874 shares of PrimeEnergy Resources stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $100.00, for a total value of $87,400.00. Following the completion of the sale, the director now owns 145,763 shares of the company’s stock, valued at approximately $14,576,300. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other PrimeEnergy Resources news, Director Clint Hurt sold 874 shares of PrimeEnergy Resources stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $100.00, for a total value of $87,400.00. Following the transaction, the director now directly owns 145,763 shares of the company’s stock, valued at approximately $14,576,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Rothschild Robert De sold 18,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $92.00, for a total transaction of $1,656,000.00. Following the transaction, the insider now directly owns 295,518 shares in the company, valued at $27,187,656. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,810 shares of company stock valued at $2,237,269. 61.07% of the stock is owned by insiders.

Institutional Investors Weigh In On PrimeEnergy Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in PrimeEnergy Resources by 258.4% in the third quarter. Barclays PLC now owns 534 shares of the oil and natural gas company’s stock valued at $62,000 after purchasing an additional 385 shares during the period. Raymond James & Associates acquired a new position in shares of PrimeEnergy Resources in the 3rd quarter worth approximately $232,000. Bank of New York Mellon Corp acquired a new position in shares of PrimeEnergy Resources in the 3rd quarter worth approximately $241,000. Lauer Wealth LLC acquired a new position in shares of PrimeEnergy Resources in the 4th quarter worth approximately $300,000. Finally, Strs Ohio lifted its holdings in shares of PrimeEnergy Resources by 5.9% in the 4th quarter. Strs Ohio now owns 3,600 shares of the oil and natural gas company’s stock worth $382,000 after acquiring an additional 200 shares during the last quarter.

PrimeEnergy Resources Company Profile

(Get Free Report)

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.

Further Reading

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