State of Alaska Department of Revenue Acquires Shares of 3,724 PrimeEnergy Corporation $PNRG

State of Alaska Department of Revenue acquired a new position in PrimeEnergy Corporation (NASDAQ:PNRG) in the 4th quarter, Holdings Channel reports. The firm acquired 3,724 shares of the oil and natural gas company’s stock, valued at approximately $636,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP bought a new stake in shares of PrimeEnergy during the 3rd quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new position in PrimeEnergy in the third quarter worth about $44,000. Flagship Harbor Advisors LLC bought a new position in PrimeEnergy in the fourth quarter worth about $52,000. State of Wyoming lifted its holdings in PrimeEnergy by 62.7% in the second quarter. State of Wyoming now owns 423 shares of the oil and natural gas company’s stock worth $62,000 after buying an additional 163 shares during the period. Finally, CWM LLC lifted its holdings in PrimeEnergy by 673.6% in the third quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock worth $68,000 after buying an additional 357 shares during the period.

Insider Activity

In related news, Director Clint Hurt sold 8,936 shares of the business’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $191.58, for a total transaction of $1,711,958.88. Following the sale, the director owned 105,763 shares of the company’s stock, valued at $20,262,075.54. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Rothschild Robert De sold 1,149 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $186.75, for a total transaction of $214,575.75. Following the completion of the sale, the insider owned 200,757 shares in the company, valued at approximately $37,491,369.75. This trade represents a 0.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 31,300 shares of company stock worth $5,836,831 in the last three months. 62.77% of the stock is currently owned by insiders.

PrimeEnergy Trading Up 5.1%

Shares of PrimeEnergy stock opened at $234.17 on Friday. PrimeEnergy Corporation has a 12 month low of $126.40 and a 12 month high of $249.50. The firm has a market capitalization of $379.36 million, a P/E ratio of 21.56 and a beta of -0.18. The business has a fifty day simple moving average of $209.32 and a two-hundred day simple moving average of $181.45.

PrimeEnergy (NASDAQ:PNRG) last released its earnings results on Thursday, April 16th. The oil and natural gas company reported $1.43 earnings per share for the quarter. The firm had revenue of $50.06 million for the quarter. PrimeEnergy had a net margin of 13.92% and a return on equity of 12.53%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of PrimeEnergy in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, PrimeEnergy has a consensus rating of “Hold”.

PrimeEnergy 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. 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, site-preparation, and construction services for oil and gas drilling and reworking operations.