Short Interest in PrimeEnergy Resources Co. (NASDAQ:PNRG) Expands By 125.0%

PrimeEnergy Resources Co. (NASDAQ:PNRG) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 6,300 shares, an increase of 125.0% from the August 31st total of 2,800 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 4,800 shares, the short-interest ratio is presently 1.3 days.

Insider Buying and Selling at PrimeEnergy Resources

In other news, major shareholder Rothschild Robert De sold 1,708 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $130.27, for a total transaction of $222,501.16. Following the completion of the transaction, the insider now owns 275,060 shares of the company’s stock, valued at $35,832,066.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 value of $267,303.69. Following the transaction, the director now owns 143,546 shares of the company’s stock, valued at $17,307,341.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Rothschild Robert De sold 1,708 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $130.27, for a total value of $222,501.16. Following the sale, the insider now owns 275,060 shares in the company, valued at approximately $35,832,066.20. The disclosure for this sale can be found here. Insiders have sold a total of 14,431 shares of company stock valued at $1,870,796 in the last 90 days. Corporate insiders own 61.07% of the company’s stock.

Institutional Investors Weigh In On PrimeEnergy Resources

Institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its position in PrimeEnergy Resources by 17.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,093 shares of the oil and natural gas company’s stock worth $754,000 after purchasing an additional 1,033 shares during the period. Vanguard Group Inc. grew its stake in shares of PrimeEnergy Resources by 1.2% during the first quarter. Vanguard Group Inc. now owns 30,941 shares of the oil and natural gas company’s stock valued at $3,102,000 after buying an additional 366 shares during the last quarter. IFG Advisory LLC purchased a new position in shares of PrimeEnergy Resources in the second quarter worth about $532,000. Victory Capital Management Inc. purchased a new position in shares of PrimeEnergy Resources in the second quarter worth about $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 acquiring an additional 1,045 shares during the last quarter.

PrimeEnergy Resources Trading Down 5.7 %

Shares of PNRG traded down $8.40 during midday trading on Thursday, reaching $138.60. The stock had a trading volume of 17,264 shares, compared to its average volume of 3,087. The company has a market capitalization of $247.40 million, a price-to-earnings ratio of 9.47 and a beta of 0.55. PrimeEnergy Resources has a 12-month low of $92.40 and a 12-month high of $153.83. The company’s 50-day moving average is $126.37 and its 200 day moving average is $112.59.

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. The business had revenue of $64.83 million during 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.