Meaningful negative changes in Primeenergy Resources Corp (NASDAQ: PNRG) fundamentals have recently occurred: the stock’s power rating fell below 50, significant quarterly earnings deceleration occurred, and significant quarterly sales deceleration occurred.
Recent meaningful negative changes in investment behavior have impacted Primeenergy Resources Corp (NASDAQ: PNRG): its shorter term price trend turned down.
In light of these highly negative signals we are reviewing our current Overall Rating of B. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, PNRG is expected to continue to be an important Value Builder.
Primeenergy Resources has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Primeenergy Resources has a very high Appreciation Score of 94 but a neutral Power Rating of 45, producing the Positive Value Trend Rating.
Recent Price Action
Primeenergy Resources Corp (NASDAQ: PNRG) stock closed at $99.01 on 4/9/24 after a slight decline of -0.1%. Moreover, above average trading volume at 124% of normal accompanied the decline. The stock has declined -1.4% during the last week and has performed in line with the market over the last nine months.
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