PrimeEnergy Resources Co. (NASDAQ:PNRG) Stock Position Lowered by Heritage Investors Management Corp

Heritage Investors Management Corp lessened its position in PrimeEnergy Resources Co. (NASDAQ:PNRG) by 7.6% during the third quarter, Holdings Channel reports. The institutional investor owned 4,970 shares of the oil and natural gas company’s stock after selling 407 shares during the quarter. Heritage Investors Management Corp’s holdings in PrimeEnergy Resources were worth $685,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of PrimeEnergy Resources during the third quarter worth $47,000. Victory Capital Management Inc. acquired a new stake in shares of PrimeEnergy Resources during the second quarter worth $222,000. Farther Finance Advisors LLC acquired a new stake in shares of PrimeEnergy Resources during the third quarter worth $276,000. IFG Advisory LLC acquired a new stake in shares of PrimeEnergy Resources during the second quarter worth $532,000. Finally, Janney Montgomery Scott LLC raised its position in shares of PrimeEnergy Resources by 8.6% during the first quarter. Janney Montgomery Scott LLC now owns 7,701 shares of the oil and natural gas company’s stock worth $772,000 after purchasing an additional 608 shares during the period.

Insider Activity at PrimeEnergy Resources

In other PrimeEnergy Resources news, major shareholder Rothschild Robert De sold 2,716 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $132.93, for a total value of $361,037.88. Following the transaction, the insider now owns 266,768 shares in the company, valued at $35,461,470.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 9,674 shares of company stock valued at $1,275,641. Company insiders own 61.07% of the company’s stock.

PrimeEnergy Resources Stock Up 4.8 %

Shares of PrimeEnergy Resources stock opened at $170.86 on Wednesday. The stock’s fifty day moving average is $148.09 and its 200-day moving average is $123.87. The firm has a market capitalization of $299.35 million, a PE ratio of 8.92 and a beta of 0.50. PrimeEnergy Resources Co. has a 12-month low of $92.40 and a 12-month high of $174.98.

PrimeEnergy Resources (NASDAQ:PNRG) last posted its quarterly earnings results on Wednesday, August 14th. The oil and natural gas company reported $7.77 earnings per share for the quarter. The firm had revenue of $64.83 million for the quarter. PrimeEnergy Resources had a return on equity of 28.34% and a net margin of 26.67%.

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.