PrimeEnergy Resources (NASDAQ:PNRG) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

PrimeEnergy Resources Co. (NASDAQ:PNRG)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $164.46 and traded as high as $224.89. PrimeEnergy Resources shares last traded at $224.89, with a volume of 35,372 shares.

PrimeEnergy Resources Stock Up 4.0 %

The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.01. The firm has a market cap of $386.14 million, a price-to-earnings ratio of 9.67 and a beta of 0.54. The firm’s 50 day simple moving average is $204.12 and its two-hundred day simple moving average is $164.46.

Insider Activity

In other news, Director Clint Hurt sold 4,894 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $215.22, for a total transaction of $1,053,286.68. Following the completion of the sale, the director now owns 126,680 shares of the company’s stock, valued at approximately $27,264,069.60. This represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Rothschild Robert De sold 3,446 shares of PrimeEnergy Resources stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $205.40, for a total transaction of $707,808.40. Following the completion of the transaction, the insider now directly owns 263,322 shares in the company, valued at $54,086,338.80. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,799 shares of company stock worth $4,251,381. Corporate insiders own 61.07% of the company’s stock.

Institutional Investors Weigh In On PrimeEnergy Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new position in shares of PrimeEnergy Resources during the 3rd quarter worth $47,000. BNP Paribas Financial Markets grew its position in PrimeEnergy Resources by 489.5% in 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. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 823 shares during the last quarter. Safir Wealth Advisors LLC acquired a new position in PrimeEnergy Resources during the fourth quarter worth about $273,000. Finally, Farther Finance Advisors LLC bought a new position in shares of PrimeEnergy Resources in the third quarter worth about $276,000.

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.