PrimeEnergy (NASDAQ:PNRG) Raised to Hold at Wall Street Zen

PrimeEnergy (NASDAQ:PNRG) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of PrimeEnergy in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

PrimeEnergy Stock Performance

Shares of PNRG stock opened at $150.21 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.60 and a quick ratio of 0.60. The company’s fifty day moving average price is $154.28 and its two-hundred day moving average price is $160.02. The firm has a market capitalization of $247.70 million, a P/E ratio of 10.10 and a beta of 0.09. PrimeEnergy has a 12 month low of $126.40 and a 12 month high of $243.49.

PrimeEnergy (NASDAQ:PNRG) last announced its earnings results on Wednesday, November 19th. The oil and natural gas company reported $4.38 earnings per share (EPS) for the quarter. PrimeEnergy had a return on equity of 17.98% and a net margin of 16.54%.The business had revenue of $45.97 million for the quarter.

Institutional Investors Weigh In On PrimeEnergy

Institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in PrimeEnergy in the third quarter worth about $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in PrimeEnergy during the third quarter valued at approximately $44,000. State of Wyoming lifted its holdings in PrimeEnergy by 62.7% during the 2nd quarter. State of Wyoming now owns 423 shares of the oil and natural gas company’s stock worth $62,000 after buying an additional 163 shares during the last quarter. CWM LLC grew its position in shares of PrimeEnergy by 673.6% in the 3rd quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock worth $68,000 after acquiring an additional 357 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of PrimeEnergy by 571.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 477 shares of the oil and natural gas company’s stock worth $70,000 after acquiring an additional 406 shares in the last quarter.

About PrimeEnergy

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.