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

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

PrimeEnergy Resources Stock Performance

NASDAQ PNRG traded down $8.40 during trading on Thursday, hitting $138.60. 17,264 shares of the company’s stock traded hands, compared to its average volume of 3,087. The stock 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 business has a 50 day moving average of $126.37 and a 200-day moving average of $112.59.

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

Insider Buying and Selling

In other PrimeEnergy Resources news, Director Clint Hurt sold 2,511 shares of the company’s stock in a transaction 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 transaction, the director now owns 140,763 shares in the company, valued at approximately $18,183,764.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PrimeEnergy Resources news, Director Clint Hurt sold 2,511 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $129.18, for a total value of $324,370.98. Following the transaction, the director now directly owns 140,763 shares in the company, valued at $18,183,764.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Rothschild Robert De sold 2,976 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $134.00, for a total transaction of $398,784.00. Following the transaction, the insider now directly owns 269,484 shares of the company’s stock, valued at $36,110,856. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,431 shares of company stock worth $1,870,796. 61.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On PrimeEnergy Resources

Several institutional investors have recently made changes to their positions in PNRG. Victory Capital Management Inc. purchased a new position in shares of PrimeEnergy Resources in the second quarter valued at $222,000. IFG Advisory LLC purchased a new position in PrimeEnergy Resources during the 2nd quarter valued at about $532,000. Janney Montgomery Scott LLC grew its holdings in PrimeEnergy Resources by 17.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,093 shares of the oil and natural gas company’s stock valued at $754,000 after buying an additional 1,033 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of PrimeEnergy Resources by 3.7% during the second 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 buying an additional 1,045 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of PrimeEnergy Resources by 1.2% in the first quarter. Vanguard Group Inc. now owns 30,941 shares of the oil and natural gas company’s stock worth $3,102,000 after buying an additional 366 shares in the last quarter.

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.