PrimeEnergy Resources Co. (NASDAQ:PNRG) Sees Large Decline in Short Interest

PrimeEnergy Resources Co. (NASDAQ:PNRG) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 2,800 shares, a decrease of 24.3% from the August 15th total of 3,700 shares. Based on an average daily volume of 4,100 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.5% of the company’s stock are sold short.

Insider Activity

In related news, major shareholder Rothschild Robert De sold 1,370 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $127.00, for a total value of $173,990.00. Following the completion of the sale, the insider now directly owns 272,460 shares in the company, valued at $34,602,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Clint Hurt sold 2,511 shares of PrimeEnergy Resources stock in a transaction that occurred on 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 owns 140,763 shares of the company’s stock, valued at $18,183,764.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Rothschild Robert De sold 1,370 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $127.00, for a total transaction of $173,990.00. Following the completion of the transaction, the insider now owns 272,460 shares in the company, valued at $34,602,420. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,739 shares of company stock worth $1,110,974. 61.07% of the stock is owned by corporate insiders.

Institutional Trading of PrimeEnergy Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of PrimeEnergy Resources by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 30,941 shares of the oil and natural gas company’s stock worth $3,102,000 after acquiring an additional 366 shares during the period. Dimensional Fund Advisors LP increased its holdings in PrimeEnergy Resources by 3.7% in the 2nd 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. Janney Montgomery Scott LLC raised its stake in shares of PrimeEnergy Resources by 8.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,701 shares of the oil and natural gas company’s stock valued at $772,000 after buying an additional 608 shares in the last quarter. IFG Advisory LLC bought a new position in shares of PrimeEnergy Resources during the 2nd quarter worth about $532,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of PrimeEnergy Resources during the 2nd quarter valued at about $222,000.

PrimeEnergy Resources Price Performance

PNRG stock opened at $133.70 on Monday. The stock has a market capitalization of $233.98 million, a price-to-earnings ratio of 9.13 and a beta of 0.55. The company has a 50-day moving average of $121.08 and a two-hundred day moving average of $110.03. PrimeEnergy Resources has a 52-week low of $92.40 and a 52-week high of $138.00.

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

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.