Short Interest in PrimeEnergy Resources Co. (NASDAQ:PNRG) Increases By 115.0%

PrimeEnergy Resources Co. (NASDAQ:PNRG) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 8,600 shares, an increase of 115.0% from the September 30th total of 4,000 shares. Approximately 1.5% of the shares of the company are short sold. Based on an average daily volume of 6,300 shares, the days-to-cover ratio is presently 1.4 days.

Insider Transactions at PrimeEnergy Resources

In other news, Director Clint Hurt sold 2,511 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $129.18, for a total value of $324,370.98. Following the completion of the sale, the director now directly owns 140,763 shares in the company, valued at $18,183,764.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Rothschild Robert De sold 904 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $132.00, for a total value of $119,328.00. Following the completion of the sale, the insider now directly owns 273,930 shares in the company, valued at $36,158,760. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Clint Hurt sold 2,511 shares of PrimeEnergy Resources stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $129.18, for a total value of $324,370.98. Following the completion of the sale, the director now directly owns 140,763 shares in the company, valued at $18,183,764.34. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,185 shares of company stock worth $1,600,012 over the last three months. 61.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PrimeEnergy Resources

Several large investors have recently modified their holdings of PNRG. Janney Montgomery Scott LLC lifted its stake in shares of PrimeEnergy Resources by 8.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,701 shares of the oil and natural gas company’s stock valued at $772,000 after purchasing an additional 608 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PrimeEnergy Resources by 1.2% in the 1st 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 last quarter. IFG Advisory LLC acquired a new position in shares of PrimeEnergy Resources in the 2nd quarter valued at $532,000. Victory Capital Management Inc. acquired a new position in shares of PrimeEnergy Resources in the 2nd quarter valued at $222,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of PrimeEnergy Resources by 3.7% in the 2nd 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 purchasing an additional 1,045 shares during the last quarter.

PrimeEnergy Resources Stock Performance

Shares of NASDAQ:PNRG traded down $2.10 during trading on Friday, reaching $168.00. The stock had a trading volume of 3,762 shares, compared to its average volume of 3,481. The business has a fifty day moving average price of $144.23 and a 200-day moving average price of $121.07. The stock has a market cap of $294 million, a PE ratio of 9.04 and a beta of 0.55. PrimeEnergy Resources has a 1-year low of $92.40 and a 1-year high of $174.98.

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 for the quarter. The company had revenue of $64.83 million for the quarter. PrimeEnergy Resources had a return on equity of 28.34% and a net margin of 26.67%.

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.