PrimeEnergy Resources Co. (NASDAQ:PNRG) Sees Significant Decrease in Short Interest

PrimeEnergy Resources Co. (NASDAQ:PNRG) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,800 shares, a drop of 24.3% from the August 15th total of 3,700 shares. Based on an average daily trading volume, of 4,100 shares, the short-interest ratio is currently 0.7 days. Approximately 0.5% of the company’s shares are short sold.

Insiders Place Their Bets

In other news, Director Clint Hurt sold 2,511 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $129.18, for a total transaction of $324,370.98. Following the transaction, the director now directly owns 140,763 shares in the company, valued at approximately $18,183,764.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Rothschild Robert De sold 1,370 shares of PrimeEnergy Resources stock in a transaction on Monday, September 9th. The stock was sold at an average price of $127.00, for a total value of $173,990.00. Following the transaction, the insider now owns 272,460 shares in the company, valued at $34,602,420. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Clint Hurt sold 2,511 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $129.18, for a total value of $324,370.98. Following the sale, the director now directly owns 140,763 shares of the company’s stock, valued at approximately $18,183,764.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,739 shares of company stock valued at $1,110,974. Insiders own 61.07% of the company’s stock.

Institutional Trading of PrimeEnergy Resources

A number of institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new position in shares of PrimeEnergy Resources during the second quarter worth about $222,000. IFG Advisory LLC purchased a new position in PrimeEnergy Resources in the 2nd quarter worth approximately $532,000. Janney Montgomery Scott LLC grew its position in PrimeEnergy Resources by 17.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,093 shares of the oil and natural gas company’s stock valued at $754,000 after acquiring an additional 1,033 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of PrimeEnergy Resources by 1.2% during the first quarter. Vanguard Group Inc. now owns 30,941 shares of the oil and natural gas company’s stock valued at $3,102,000 after purchasing an additional 366 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of PrimeEnergy Resources by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 29,571 shares of the oil and natural gas company’s stock worth $3,146,000 after purchasing an additional 1,045 shares in the last quarter.

PrimeEnergy Resources Stock Down 0.3 %

Shares of NASDAQ PNRG traded down $0.34 during midday trading on Friday, hitting $133.70. The stock had a trading volume of 9,450 shares, compared to its average volume of 2,753. PrimeEnergy Resources has a 1-year low of $92.40 and a 1-year high of $138.00. The company has a market capitalization of $233.98 million, a price-to-earnings ratio of 9.13 and a beta of 0.55. The company has a fifty day moving average price of $121.08 and a 200 day moving average price of $110.03.

PrimeEnergy Resources (NASDAQ:PNRG) last released its quarterly earnings data on Wednesday, August 14th. The oil and natural gas company reported $7.77 earnings per share (EPS) for the quarter. PrimeEnergy Resources had a net margin of 26.67% and a return on equity of 28.34%. The company had revenue of $64.83 million during 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.