PrimeEnergy Resources (NASDAQ:PNRG) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

PrimeEnergy Resources Co. (NASDAQ:PNRG)’s stock price 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 trading hands.

PrimeEnergy Resources Stock Performance

The firm’s 50 day moving average price is $184.45 and its two-hundred day moving average price is $145.89. The firm has a market cap of $345.46 million, a PE ratio of 8.65 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.54 and a current ratio of 0.54.

Institutional Inflows and Outflows

Several 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 in the 3rd quarter valued at $47,000. BNP Paribas Financial Markets lifted 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 buying an additional 1,028 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in PrimeEnergy Resources by 3.1% during the third quarter. Janney Montgomery Scott LLC now owns 8,196 shares of the oil and natural gas company’s stock worth $1,129,000 after buying an additional 247 shares during the period. Empowered Funds LLC increased its position in shares of PrimeEnergy Resources by 41.2% during the third quarter. Empowered Funds LLC now owns 2,838 shares of the oil and natural gas company’s stock valued at $391,000 after acquiring an additional 828 shares during the last quarter. Finally, IFG Advisory LLC purchased a new stake in shares of PrimeEnergy Resources in the 2nd quarter valued at approximately $532,000.

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.