Principal Financial Group Inc. Invests $916,000 in PrimeEnergy Corporation $PNRG

Principal Financial Group Inc. purchased a new position in PrimeEnergy Corporation (NASDAQ:PNRG) during the 3rd quarter, Holdings Channel reports. The fund purchased 5,487 shares of the oil and natural gas company’s stock, valued at approximately $916,000.

Several other large investors also recently added to or reduced their stakes in PNRG. State of Wyoming increased its position in shares of PrimeEnergy by 62.7% during the second quarter. State of Wyoming now owns 423 shares of the oil and natural gas company’s stock worth $62,000 after acquiring an additional 163 shares during the period. CWM LLC grew its stake in PrimeEnergy by 673.6% in the third quarter. CWM LLC now owns 410 shares of the oil and natural gas company’s stock worth $68,000 after purchasing an additional 357 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in PrimeEnergy by 571.8% in the second quarter. Tower Research Capital LLC TRC now owns 477 shares of the oil and natural gas company’s stock worth $70,000 after purchasing an additional 406 shares in the last quarter. Rhumbline Advisers increased its holdings in PrimeEnergy by 99.3% during the 2nd quarter. Rhumbline Advisers now owns 1,373 shares of the oil and natural gas company’s stock worth $201,000 after purchasing an additional 684 shares during the period. Finally, Safir Wealth Advisors LLC bought a new stake in PrimeEnergy during the 3rd quarter valued at $208,000.

PrimeEnergy Stock Up 3.7%

PrimeEnergy stock opened at $173.69 on Thursday. The firm has a market cap of $283.11 million, a P/E ratio of 16.62 and a beta of -0.03. The business has a fifty day moving average of $176.29 and a two-hundred day moving average of $165.27. PrimeEnergy Corporation has a twelve month low of $126.40 and a twelve month high of $238.20.

PrimeEnergy (NASDAQ:PNRG) last issued its quarterly earnings data on Wednesday, November 19th. The oil and natural gas company reported $4.38 earnings per share for the quarter. PrimeEnergy had a return on equity of 12.19% and a net margin of 12.69%.The firm had revenue of $44.66 million during the quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen upgraded PrimeEnergy from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “hold (c)” rating on shares of PrimeEnergy in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Insider Buying and Selling at PrimeEnergy

In other PrimeEnergy news, Director Clint Hurt sold 8,936 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $191.58, for a total value of $1,711,958.88. Following the completion of the sale, the director directly owned 105,763 shares in the company, valued at approximately $20,262,075.54. This trade represents a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Rothschild Robert De sold 10,151 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $186.19, for a total transaction of $1,890,014.69. Following the completion of the transaction, the insider directly owned 211,906 shares of the company’s stock, valued at $39,454,778.14. The trade was a 4.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 50,000 shares of company stock worth $9,329,161 over the last ninety days. Corporate insiders own 62.77% of the company’s stock.

PrimeEnergy 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. 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, site-preparation, and construction services for oil and gas drilling and reworking operations.