PrimeEnergy Resources Co. (NASDAQ:PNRG) Sees Large Increase in Short Interest

PrimeEnergy Resources Co. (NASDAQ:PNRG) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 3,500 shares, an increase of 20.7% from the May 31st total of 2,900 shares. Based on an average daily trading volume, of 2,300 shares, the short-interest ratio is currently 1.5 days. Currently, 0.6% of the company’s stock are sold short.

Insider Activity at PrimeEnergy Resources

In related news, major shareholder Rothschild Robert De sold 17,800 shares of PrimeEnergy Resources stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $97.50, for a total transaction of $1,735,500.00. Following the transaction, the insider now owns 277,968 shares of the company’s stock, valued at $27,101,880. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Clint Hurt sold 3,368 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $100.01, for a total transaction of $336,833.68. Following the transaction, the director now owns 147,827 shares of the company’s stock, valued at approximately $14,784,178.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Rothschild Robert De sold 17,800 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $97.50, for a total value of $1,735,500.00. Following the transaction, the insider now directly owns 277,968 shares in the company, valued at approximately $27,101,880. The disclosure for this sale can be found here. Insiders have sold a total of 23,610 shares of company stock valued at $2,316,769 over the last 90 days. Insiders own 61.07% of the company’s stock.

Hedge Funds Weigh In On PrimeEnergy Resources

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in PrimeEnergy Resources by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 30,941 shares of the oil and natural gas company’s stock worth $3,102,000 after acquiring an additional 366 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of PrimeEnergy Resources by 8.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,701 shares of the oil and natural gas company’s stock worth $772,000 after buying an additional 608 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of PrimeEnergy Resources by 10.5% in the 4th quarter. New York State Common Retirement Fund now owns 4,206 shares of the oil and natural gas company’s stock worth $447,000 after buying an additional 400 shares during the last quarter. Strs Ohio grew its position 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 buying an additional 200 shares during the last quarter. Finally, Lauer Wealth LLC bought a new stake in shares of PrimeEnergy Resources in the 4th quarter worth approximately $300,000.

PrimeEnergy Resources Stock Up 0.2 %

Shares of NASDAQ PNRG opened at $106.55 on Tuesday. PrimeEnergy Resources has a one year low of $85.50 and a one year high of $120.93. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.36 and a quick ratio of 0.36. The business’s fifty day moving average price is $106.68 and its 200-day moving average price is $102.57. The stock has a market capitalization of $189.66 million, a PE ratio of 7.28 and a beta of 0.55.

PrimeEnergy Resources (NASDAQ:PNRG) last released its quarterly earnings data on Friday, May 17th. The oil and natural gas company reported $4.41 earnings per share (EPS) for the quarter. PrimeEnergy Resources had a return on equity of 24.03% and a net margin of 26.50%. The company had revenue of $42.99 million for the quarter.

PrimeEnergy Resources 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.