PrimeEnergy Resources Co. (NASDAQ:PNRG) Short Interest Update

PrimeEnergy Resources Co. (NASDAQ:PNRG) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 4,000 shares, a drop of 36.5% from the September 15th total of 6,300 shares. Based on an average daily volume of 6,000 shares, the short-interest ratio is currently 0.7 days. Approximately 0.7% of the shares of the company are sold short.

Insiders Place Their Bets

In other news, Director Clint Hurt sold 2,217 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $120.57, for a total value of $267,303.69. Following the transaction, the director now owns 143,546 shares in the company, valued at $17,307,341.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder Rothschild Robert De sold 1,708 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $130.27, for a total value of $222,501.16. Following the completion of the sale, the insider now directly owns 275,060 shares of the company’s stock, valued at approximately $35,832,066.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Clint Hurt sold 2,217 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $120.57, for a total transaction of $267,303.69. Following the completion of the sale, the director now directly owns 143,546 shares of the company’s stock, valued at approximately $17,307,341.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,431 shares of company stock valued at $1,870,796. Insiders own 61.07% of the company’s stock.

Hedge Funds Weigh In On PrimeEnergy Resources

A number of hedge funds and other institutional investors have recently modified their holdings of PNRG. Victory Capital Management Inc. bought a new stake in PrimeEnergy Resources in the 2nd quarter valued at $222,000. IFG Advisory LLC bought a new stake in shares of PrimeEnergy Resources in the second quarter worth about $532,000. Janney Montgomery Scott LLC increased its holdings in shares of PrimeEnergy Resources by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 7,701 shares of the oil and natural gas company’s stock worth $772,000 after purchasing an additional 608 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of PrimeEnergy Resources by 1.2% in the first quarter. Vanguard Group Inc. now owns 30,941 shares of the oil and natural gas company’s stock worth $3,102,000 after buying an additional 366 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in 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 valued at $3,146,000 after buying an additional 1,045 shares during the last quarter.

PrimeEnergy Resources Stock Up 3.0 %

NASDAQ:PNRG traded up $4.83 on Monday, reaching $165.00. 6,188 shares of the company’s stock traded hands, compared to its average volume of 3,390. The stock has a 50-day simple moving average of $133.89 and a 200-day simple moving average of $116.62. PrimeEnergy Resources has a 12 month low of $92.40 and a 12 month high of $174.98. The firm has a market cap of $294.53 million, a PE ratio of 10.94 and a beta of 0.55.

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

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.