Short Interest in PrimeEnergy Resources Co. (NASDAQ:PNRG) Drops By 37.5%

PrimeEnergy Resources Co. (NASDAQ:PNRGGet Rating) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 1,500 shares, a decline of 37.5% from the April 30th total of 2,400 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 4,400 shares, the short-interest ratio is presently 0.3 days.

PNRG opened at $83.79 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a fifty day moving average price of $75.93 and a 200 day moving average price of $72.93. PrimeEnergy Resources has a 1 year low of $41.50 and a 1 year high of $89.51. The stock has a market cap of $165.49 million, a P/E ratio of 108.82 and a beta of 0.80.

PrimeEnergy Resources (NASDAQ:PNRGGet Rating) last posted its quarterly earnings data on Friday, May 20th. The oil and natural gas company reported $0.03 earnings per share for the quarter. The company had revenue of $26.21 million during the quarter. PrimeEnergy Resources had a net margin of 2.64% and a return on equity of 2.19%.

In related news, Director Clint Hurt sold 2,100 shares of the business’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $82.66, for a total value of $173,586.00. Following the completion of the transaction, the director now directly owns 173,878 shares in the company, valued at approximately $14,372,755.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 5,271 shares of company stock valued at $433,480. Company insiders own 57.46% of the company’s stock.

A number of large investors have recently bought and sold shares of PNRG. Marshall Wace North America L.P. acquired a new position in PrimeEnergy Resources during the first quarter worth $26,000. JPMorgan Chase & Co. acquired a new position in PrimeEnergy Resources during the fourth quarter worth $27,000. Millennium Management LLC acquired a new position in PrimeEnergy Resources during the second quarter worth $208,000. Susquehanna International Group LLP acquired a new position in PrimeEnergy Resources during the fourth quarter worth $216,000. Finally, Wedbush Securities Inc. raised its position in PrimeEnergy Resources by 59.2% during the fourth quarter. Wedbush Securities Inc. now owns 7,598 shares of the oil and natural gas company’s stock worth $533,000 after acquiring an additional 2,825 shares during the period. Institutional investors own 12.19% of the company’s stock.

Separately, TheStreet upgraded shares of PrimeEnergy Resources from a “d” rating to a “c” rating in a research note on Friday, April 22nd.

About PrimeEnergy Resources (Get Rating)

PrimeEnergy Resources Corporation, an independent oil and natural gas company, through its subsidiaries, engages in acquiring, developing, and producing oil and natural gas properties in the United States. It also acquires producing oil and gas properties through joint ventures with industry partners; and provides contract services to third parties, including well-servicing support operations, site-preparation, and construction services for oil and gas drilling and reworking operations.

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