PrimeEnergy Resources Co. (NASDAQ:PNRG) Short Interest Up 25.4% in December

PrimeEnergy Resources Co. (NASDAQ:PNRG) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 8,400 shares, a growth of 25.4% from the December 15th total of 6,700 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 8,000 shares, the short-interest ratio is currently 1.1 days.

Insider Buying and Selling

In other news, Director Clint Hurt sold 2,118 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $220.66, for a total value of $467,357.88. Following the completion of the sale, the director now directly owns 135,776 shares of the company’s stock, valued at $29,960,332.16. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Rothschild Robert De sold 2,311 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $215.03, for a total value of $496,934.33. Following the transaction, 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. Over the last 90 days, insiders have sold 11,967 shares of company stock worth $2,569,830. Insiders own 61.07% of the company’s stock.

Hedge Funds Weigh In On PrimeEnergy Resources

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of PrimeEnergy Resources during the third quarter valued at $47,000. BNP Paribas Financial Markets grew its stake in 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 worth $171,000 after acquiring an additional 1,028 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of PrimeEnergy Resources by 119.4% during the third quarter. JPMorgan Chase & Co. now owns 1,512 shares of the oil and natural gas company’s stock worth $208,000 after acquiring an additional 823 shares during the period. Victory Capital Management Inc. bought a new stake in shares of PrimeEnergy Resources during the second quarter valued at approximately $222,000. Finally, Safir Wealth Advisors LLC purchased a new stake in shares of PrimeEnergy Resources in the fourth quarter valued at approximately $273,000.

PrimeEnergy Resources Trading Up 1.2 %

PrimeEnergy Resources stock traded up $2.63 during midday trading on Friday, reaching $213.37. The stock had a trading volume of 46,008 shares, compared to its average volume of 10,813. PrimeEnergy Resources has a 52-week low of $92.40 and a 52-week high of $243.49. The company has a fifty day moving average of $199.66 and a 200 day moving average of $158.41. The firm has a market cap of $367.00 million, a price-to-earnings ratio of 9.17 and a beta of 0.54. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.01.

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.