JPMorgan Chase & Co. Acquires 16,959 Shares of PrimeEnergy Corporation $PNRG

JPMorgan Chase & Co. grew its holdings in shares of PrimeEnergy Corporation (NASDAQ:PNRG) by 6,756.6% during the third quarter, HoldingsChannel.com reports. The firm owned 17,210 shares of the oil and natural gas company’s stock after acquiring an additional 16,959 shares during the quarter. JPMorgan Chase & Co.’s holdings in PrimeEnergy were worth $2,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PNRG. Marex Group plc bought a new stake in shares of PrimeEnergy in the second quarter valued at approximately $1,317,000. Quantbot Technologies LP increased its stake in PrimeEnergy by 51,768.8% during the 2nd quarter. Quantbot Technologies LP now owns 8,299 shares of the oil and natural gas company’s stock worth $1,215,000 after acquiring an additional 8,283 shares during the period. Principal Financial Group Inc. bought a new position in PrimeEnergy during the 3rd quarter worth $916,000. Centiva Capital LP acquired a new position in PrimeEnergy in the 3rd quarter valued at $523,000. Finally, SummerHaven Investment Management LLC acquired a new position in PrimeEnergy in the 3rd quarter valued at $862,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of PrimeEnergy in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

PrimeEnergy Stock Performance

Shares of NASDAQ:PNRG opened at $234.16 on Monday. The firm has a 50 day moving average of $200.11 and a 200-day moving average of $176.83. PrimeEnergy Corporation has a 12 month low of $126.40 and a 12 month high of $244.62. The stock has a market capitalization of $381.68 million, a PE ratio of 22.41 and a beta of -0.18.

Insider Buying and Selling

In other PrimeEnergy news, major shareholder Rothschild Robert De sold 10,151 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $186.19, for a total value of $1,890,014.69. Following the sale, the insider owned 211,906 shares of the company’s stock, valued at approximately $39,454,778.14. This trade represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Clint Hurt sold 8,936 shares of PrimeEnergy stock in a transaction on Friday, February 6th. The shares were sold at an average price of $191.58, for a total value of $1,711,958.88. Following the completion of the transaction, the director owned 105,763 shares in the company, valued at approximately $20,262,075.54. The trade was a 7.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,000 shares of company stock worth $7,427,626 over the last three months. 62.77% of the stock is currently owned by insiders.

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. 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.