PrimeEnergy Resources Co. (NASDAQ:PNRG) Short Interest Up 28.6% in February

PrimeEnergy Resources Co. (NASDAQ:PNRG - Get Free Report) saw a significant growth in short interest in February. As of February 15th, there was short interest totalling 16,200 shares, a growth of 28.6% from the January 31st total of 12,600 shares. Approximately 2.7% of the company's shares are sold short. Based on an average daily volume of 14,200 shares, the short-interest ratio is presently 1.1 days.

PrimeEnergy Resources Stock Up 2.8 %

Shares of PrimeEnergy Resources stock traded up $5.14 on Friday, reaching $188.34. 25,860 shares of the company were exchanged, compared to its average volume of 7,128. The stock's 50 day moving average price is $206.34 and its 200-day moving average price is $179.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.54 and a quick ratio of 0.54. PrimeEnergy Resources has a 1-year low of $97.15 and a 1-year high of $243.49. The company has a market cap of $323.38 million, a P/E ratio of 8.10 and a beta of 0.54.

Insiders Place Their Bets

In other PrimeEnergy Resources news, major shareholder Rothschild Robert De bought 1,017 shares of the business's stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average cost of $195.29 per share, with a total value of $198,609.93. Following the purchase, the insider now directly owns 236,913 shares in the company, valued at approximately $46,266,739.77. This represents a 0.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Clint Hurt sold 997 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $234.09, for a total transaction of $233,387.73. Following the sale, the director now owns 139,766 shares in the company, valued at approximately $32,717,822.94. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,896 shares of company stock worth $6,957,496 over the last ninety days. Corporate insiders own 61.07% of the company's stock.

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Hedge Funds Weigh In On PrimeEnergy Resources

A number of institutional investors and hedge funds have recently modified their holdings of PNRG. Allspring Global Investments Holdings LLC purchased a new stake in PrimeEnergy Resources during the 3rd quarter worth about $47,000. Farther Finance Advisors LLC acquired a new stake in shares of PrimeEnergy Resources during the 3rd quarter worth about $276,000. Janney Montgomery Scott LLC raised its holdings 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 purchasing an additional 247 shares in the last quarter. Empowered Funds LLC lifted its position in shares of PrimeEnergy Resources by 41.2% during the 3rd quarter. Empowered Funds LLC now owns 2,838 shares of the oil and natural gas company's stock worth $391,000 after buying an additional 828 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of PrimeEnergy Resources by 489.5% in the 3rd 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 in the last quarter.

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.