PrimeEnergy (NASDAQ:PNRG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PrimeEnergy (NASDAQ:PNRG) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of PrimeEnergy in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

PrimeEnergy Trading Up 9.8%

PNRG opened at $164.91 on Friday. The stock has a 50-day moving average of $154.14 and a 200 day moving average of $159.97. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.06. PrimeEnergy has a 12 month low of $126.40 and a 12 month high of $243.49. The firm has a market cap of $269.63 million, a P/E ratio of 11.09 and a beta of 0.09.

PrimeEnergy (NASDAQ:PNRG) last issued its quarterly earnings data on Wednesday, November 19th. The oil and natural gas company reported $4.38 earnings per share (EPS) for the quarter. The business had revenue of $45.97 million for the quarter. PrimeEnergy had a return on equity of 17.98% and a net margin of 16.54%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its stake in shares of PrimeEnergy by 1,879.1% during the 1st quarter. Meeder Asset Management Inc. now owns 1,702 shares of the oil and natural gas company’s stock worth $388,000 after acquiring an additional 1,616 shares during the last quarter. Strs Ohio bought a new position in PrimeEnergy in the 1st quarter valued at $501,000. Bank of New York Mellon Corp increased its stake in PrimeEnergy by 69.6% in the first quarter. Bank of New York Mellon Corp now owns 1,896 shares of the oil and natural gas company’s stock worth $432,000 after purchasing an additional 778 shares during the period. Invesco Ltd. increased its stake in PrimeEnergy by 18.4% in the first quarter. Invesco Ltd. now owns 34,084 shares of the oil and natural gas company’s stock worth $7,767,000 after purchasing an additional 5,294 shares during the period. Finally, Aviva PLC bought a new stake in shares of PrimeEnergy during the second quarter worth $281,000.

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.