PrimeEnergy Resources (NASDAQ:PNRG) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

PrimeEnergy Resources Co. (NASDAQ:PNRG) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $145.89 and traded as high as $201.20. PrimeEnergy Resources shares last traded at $201.20, with a volume of 18,679 shares changing hands.

PrimeEnergy Resources Price Performance

The firm has a market capitalization of $390.44 million, a PE ratio of 9.76 and a beta of 0.56. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average price of $185.67 and a 200 day moving average price of $146.45.

Institutional Investors Weigh In On PrimeEnergy Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of PrimeEnergy Resources by 119.4% in the third quarter. JPMorgan Chase & Co. now owns 1,512 shares of the oil and natural gas company’s stock valued at $208,000 after purchasing an additional 823 shares during the period. Barclays PLC lifted its stake in PrimeEnergy Resources by 31.9% in the 3rd quarter. Barclays PLC now owns 2,629 shares of the oil and natural gas company’s stock valued at $362,000 after buying an additional 636 shares in the last quarter. Geode Capital Management LLC boosted its holdings in PrimeEnergy Resources by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 15,639 shares of the oil and natural gas company’s stock worth $2,155,000 after buying an additional 935 shares during the last quarter. State Street Corp increased its stake in PrimeEnergy Resources by 1.4% during the 3rd quarter. State Street Corp now owns 7,447 shares of the oil and natural gas company’s stock worth $1,026,000 after buying an additional 100 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of PrimeEnergy Resources by 489.5% during the third quarter. BNP Paribas Financial Markets now owns 1,238 shares of the oil and natural gas company’s stock valued at $171,000 after acquiring an additional 1,028 shares during the last 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.