PrimeEnergy Resources (NASDAQ:PNRG) Announces Earnings Results

PrimeEnergy Resources (NASDAQ:PNRG) released its earnings results on Tuesday. The oil and natural gas company reported $1.02 earnings per share (EPS) for the quarter, Zacks reports. PrimeEnergy Resources had a net margin of 27.73% and a return on equity of 32.76%.

PrimeEnergy Resources Trading Up 2.2 %

NASDAQ PNRG opened at $187.80 on Wednesday. The stock has a market capitalization of $322.45 million, a P/E ratio of 8.07 and a beta of 0.04. The business has a 50 day simple moving average of $200.96 and a 200 day simple moving average of $193.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.54 and a quick ratio of 0.54. PrimeEnergy Resources has a one year low of $98.55 and a one year high of $243.49.

Insiders Place Their Bets

In related news, Director Clint Hurt sold 4,894 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $215.22, for a total value of $1,053,286.68. Following the transaction, the director now owns 126,680 shares of the company’s stock, valued at approximately $27,264,069.60. This trade represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Rothschild Robert De bought 1,017 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were acquired at an average cost of $195.29 per share, with a total value of $198,609.93. Following the completion of the transaction, the insider now owns 236,913 shares in the company, valued at approximately $46,266,739.77. The trade was a 0.43 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 20,929 shares of company stock worth $4,387,666. Corporate insiders own 61.07% of the company’s stock.

About PrimeEnergy Resources

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.