Insider Selling: PrimeEnergy (NASDAQ:PNRG) Major Shareholder Sells $3,074,258.40 in Stock

PrimeEnergy Corporation (NASDAQ:PNRG) major shareholder Rothschild Robert De sold 13,274 shares of the company’s stock in a transaction dated 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 directly owned 187,483 shares of the company’s stock, valued at $43,421,062.80. This represents a 6.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Rothschild Robert De also recently made the following trade(s):

• On Thursday, February 5th, Rothschild Robert De sold 1,149 shares of PrimeEnergy stock. The shares were sold at an average price of $186.75, for a total transaction of $214,575.75.
• On Friday, January 30th, Rothschild Robert De sold 10,000 shares of PrimeEnergy stock. The shares were sold at an average price of $181.81, for a total transaction of $1,818,100.00.
• On Thursday, January 29th, Rothschild Robert De sold 10,151 shares of PrimeEnergy stock. The shares were sold at an average price of $186.19, for a total transaction of $1,890,014.69.

PrimeEnergy Price Performance

NASDAQ PNRG opened at $216.43 on Friday. The company has a 50 day simple moving average of $213.90 and a 200-day simple moving average of $183.43. The firm has a market capitalization of $350.18 million, a price-to-earnings ratio of 19.93 and a beta of -0.18. PrimeEnergy Corporation has a 52-week low of $126.40 and a 52-week high of $249.50.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised PrimeEnergy from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PrimeEnergy in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, PrimeEnergy presently has a consensus rating of “Hold”.

Institutional Trading of PrimeEnergy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming increased its position in PrimeEnergy by 78.7% in the fourth quarter. State of Wyoming now owns 168 shares of the oil and natural gas company’s stock worth $29,000 after purchasing an additional 74 shares during the period. Quarry LP acquired a new position in shares of PrimeEnergy during the 3rd quarter worth about $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of PrimeEnergy during the 3rd quarter worth about $44,000. Flagship Harbor Advisors LLC acquired a new position in shares of PrimeEnergy during the 4th quarter worth about $52,000. Finally, CWM LLC grew its position in shares of PrimeEnergy by 673.6% during the 3rd quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock worth $68,000 after buying an additional 357 shares during the period.

About PrimeEnergy

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.