Primeenergy Resources (NASDAQ:PNRG) Stock Price Crosses Above 200-Day Moving Average of $129.09

Primeenergy Resources Corp (NASDAQ:PNRG) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $129.09 and traded as high as $150.48. Primeenergy Resources shares last traded at $149.69, with a volume of 3,400 shares changing hands.

PNRG has been the subject of a number of research reports. ValuEngine cut shares of Primeenergy Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. TheStreet raised shares of Primeenergy Resources from a “c” rating to a “b-” rating in a research note on Thursday, August 29th.

The business has a fifty day simple moving average of $141.63 and a 200 day simple moving average of $129.09. The firm has a market cap of $280.35 million, a price-to-earnings ratio of 28.59 and a beta of 0.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.17.

Several hedge funds and other institutional investors have recently modified their holdings of PNRG. BlackRock Inc. grew its position in Primeenergy Resources by 9,085.5% in the second quarter. BlackRock Inc. now owns 24,066 shares of the oil and natural gas company’s stock worth $3,204,000 after acquiring an additional 23,804 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Primeenergy Resources by 204.2% in the 2nd quarter. Vanguard Group Inc. now owns 14,663 shares of the oil and natural gas company’s stock valued at $1,952,000 after buying an additional 9,843 shares in the last quarter. Strs Ohio acquired a new position in shares of Primeenergy Resources in the 3rd quarter valued at $46,000. Northern Trust Corp grew its position in shares of Primeenergy Resources by 3.9% in the 2nd quarter. Northern Trust Corp now owns 11,658 shares of the oil and natural gas company’s stock valued at $1,552,000 after buying an additional 436 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. purchased a new position in shares of Primeenergy Resources in the 2nd quarter valued at $266,000. Institutional investors and hedge funds own 4.70% of the company’s stock.

Primeenergy Resources Company Profile (NASDAQ:PNRG)

PrimeEnergy Resources Corporation, an independent oil and natural gas company, through its subsidiaries, engages in acquiring, developing, and producing oil and natural gas properties in the United States. 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 operations, site-preparation, and construction services for oil and gas drilling and reworking operations.

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