PrimeEnergy Resources Co. (NASDAQ:PNRG) Short Interest Up 24.3% in March

PrimeEnergy Resources Co. (NASDAQ:PNRG - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 23,500 shares, an increase of 24.3% from the March 15th total of 18,900 shares. Currently, 3.9% of the company's shares are short sold. Based on an average daily volume of 17,900 shares, the short-interest ratio is presently 1.3 days.

Insiders Place Their Bets

In related news, major shareholder Rothschild Robert De purchased 1,017 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was purchased at an average price of $195.29 per share, with a total value of $198,609.93. Following the completion of the purchase, the insider now owns 236,913 shares of the company's stock, valued at approximately $46,266,739.77. The trade was a 0.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Clint Hurt sold 4,894 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $215.22, for a total value of $1,053,286.68. Following the completion of the transaction, the director now directly owns 126,680 shares in the company, valued at approximately $27,264,069.60. This trade represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,991 shares of company stock worth $3,759,402 over the last quarter. Company insiders own 61.07% of the company's stock.

Institutional Trading of PrimeEnergy Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. purchased a new stake in shares of PrimeEnergy Resources during the 4th quarter worth $6,322,000. American Century Companies Inc. boosted its holdings in shares of PrimeEnergy Resources by 363.6% in the 4th quarter. American Century Companies Inc. now owns 7,270 shares of the oil and natural gas company's stock valued at $1,596,000 after buying an additional 5,702 shares in the last quarter. Empowered Funds LLC grew its position in shares of PrimeEnergy Resources by 185.7% in the 4th quarter. Empowered Funds LLC now owns 8,108 shares of the oil and natural gas company's stock worth $1,780,000 after buying an additional 5,270 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in shares of PrimeEnergy Resources by 73.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 12,449 shares of the oil and natural gas company's stock worth $2,734,000 after acquiring an additional 5,270 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in PrimeEnergy Resources during the fourth quarter valued at approximately $815,000.

PrimeEnergy Resources Stock Down 3.6 %

Shares of PNRG stock traded down $6.25 on Friday, hitting $166.00. The stock had a trading volume of 11,096 shares, compared to its average volume of 9,086. PrimeEnergy Resources has a one year low of $98.55 and a one year high of $243.49. The business has a 50 day moving average price of $199.08 and a 200 day moving average price of $194.45. The company has a market cap of $285.02 million, a PE ratio of 7.14 and a beta of 0.04. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.01.

PrimeEnergy Resources (NASDAQ:PNRG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The oil and natural gas company reported $1.02 earnings per share for the quarter. The firm had revenue of $60.53 million during the quarter. PrimeEnergy Resources had a net margin of 27.73% and a return on equity of 32.76%.

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.

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