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

PrimeEnergy Resources Co. (NASDAQ:PNRG) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 23,500 shares, a growth of 24.3% from the March 15th total of 18,900 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average daily volume of 17,900 shares, the days-to-cover ratio is currently 1.3 days.

PrimeEnergy Resources Stock Performance

PrimeEnergy Resources stock traded down $6.25 during mid-day trading on Friday, hitting $166.00. The company had a trading volume of 11,096 shares, compared to its average volume of 9,086. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $199.08 and its 200-day moving average is $194.45. PrimeEnergy Resources has a 12-month low of $98.55 and a 12-month high of $243.49. The company has a market capitalization of $285.02 million, a price-to-earnings ratio of 7.14 and a beta of 0.04.

PrimeEnergy Resources (NASDAQ:PNRG) last posted its quarterly earnings data on Tuesday, April 15th. The oil and natural gas company reported $1.02 EPS for the quarter. The company had revenue of $60.53 million during the quarter. PrimeEnergy Resources had a return on equity of 32.76% and a net margin of 27.73%.

Insider Activity at PrimeEnergy Resources

In other news, major shareholder Rothschild Robert De sold 3,297 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $219.72, for a total value of $724,416.84. Following the sale, the insider now directly owns 253,471 shares of the company’s stock, valued at $55,692,648.12. This represents a 1.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clint Hurt sold 4,894 shares of the stock in a transaction dated 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 sale, the director now directly owns 126,680 shares in the company, valued at $27,264,069.60. This represents a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,991 shares of company stock valued at $3,759,402 in the last three months. 61.07% of the stock is owned by insiders.

Institutional Trading of PrimeEnergy Resources

Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in shares of PrimeEnergy Resources by 185.7% during the 4th quarter. Empowered Funds LLC now owns 8,108 shares of the oil and natural gas company’s stock valued at $1,780,000 after buying an additional 5,270 shares during the period. Barclays PLC lifted its holdings in shares of PrimeEnergy Resources by 31.9% in the 3rd quarter. Barclays PLC now owns 2,629 shares of the oil and natural gas company’s stock worth $362,000 after acquiring an additional 636 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in PrimeEnergy Resources in the 4th quarter valued at approximately $246,000. State Street Corp raised its position 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 purchasing an additional 100 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of PrimeEnergy Resources during the fourth quarter worth $815,000.

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.