PrimeEnergy Resources (NASDAQ:PNRG) Stock Price Passes Above Two Hundred Day Moving Average - Should You Sell?

PrimeEnergy Resources Co. (NASDAQ:PNRG - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $164.46 and traded as high as $224.89. PrimeEnergy Resources shares last traded at $224.89, with a volume of 35,372 shares traded.

PrimeEnergy Resources Stock Performance

The business's fifty day simple moving average is $204.12 and its 200-day simple moving average is $164.46. The company has a market capitalization of $406.59 million, a P/E ratio of 10.13 and a beta of 0.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.54 and a current ratio of 0.54.

Insider Buying and Selling at PrimeEnergy Resources

In other news, Director Clint Hurt sold 4,894 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $215.22, for a total transaction of $1,053,286.68. Following the transaction, the director now owns 126,680 shares of the company's stock, valued at approximately $27,264,069.60. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Rothschild Robert De sold 2,311 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $215.03, for a total transaction of $496,934.33. Following the completion of the sale, the insider now directly owns 259,011 shares in the company, valued at approximately $55,695,135.33. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,799 shares of company stock worth $4,251,381 in the last quarter. 61.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PrimeEnergy Resources

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in PrimeEnergy Resources by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 29,571 shares of the oil and natural gas company's stock worth $3,146,000 after acquiring an additional 1,045 shares during the period. Geode Capital Management LLC grew its stake in PrimeEnergy Resources by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 15,639 shares of the oil and natural gas company's stock valued at $2,155,000 after purchasing an additional 935 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of 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 purchasing an additional 247 shares during the last quarter. Empowered Funds LLC lifted its holdings in PrimeEnergy Resources by 185.7% in the fourth quarter. Empowered Funds LLC now owns 8,108 shares of the oil and natural gas company's stock valued at $1,780,000 after acquiring an additional 5,270 shares during the period. Finally, State Street Corp increased its holdings in PrimeEnergy Resources by 1.4% in the third quarter. State Street Corp now owns 7,447 shares of the oil and natural gas company's stock valued at $1,026,000 after buying an additional 100 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.