PrimeEnergy Resources (NASDAQ:PNRG) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

PrimeEnergy Resources Co. (NASDAQ:PNRG)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $123.42 and traded as high as $164.05. PrimeEnergy Resources shares last traded at $163.00, with a volume of 2,910 shares.

PrimeEnergy Resources Stock Down 0.1 %

The business has a 50-day simple moving average of $147.52 and a two-hundred day simple moving average of $123.42. The company has a market cap of $285.25 million, a price-to-earnings ratio of 8.77 and a beta of 0.50.

PrimeEnergy Resources (NASDAQ:PNRG) last posted its quarterly earnings data on Wednesday, August 14th. The oil and natural gas company reported $7.77 earnings per share for the quarter. PrimeEnergy Resources had a return on equity of 28.34% and a net margin of 26.67%. The business had revenue of $64.83 million during the quarter.

Insider Buying and Selling

In related news, major shareholder Rothschild Robert De sold 904 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $132.00, for a total transaction of $119,328.00. Following the completion of the transaction, the insider now owns 273,930 shares of the company’s stock, valued at approximately $36,158,760. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 9,674 shares of company stock valued at $1,275,641. Insiders own 61.07% of the company’s stock.

Hedge Funds Weigh In On PrimeEnergy Resources

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew 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 period. Dimensional Fund Advisors LP grew 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 period. Janney Montgomery Scott LLC grew its stake in shares of PrimeEnergy Resources by 3.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 8,196 shares of the oil and natural gas company’s stock valued at $1,129,000 after purchasing an additional 247 shares during the period. IFG Advisory LLC bought a new stake in shares of PrimeEnergy Resources in the 2nd quarter valued at approximately $532,000. Finally, Victory Capital Management Inc. bought a new stake in shares of PrimeEnergy Resources in the 2nd quarter valued at approximately $222,000.

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.