Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for Primeenergy Resources Corp (NASDAQ: PNRG) weakened in the last week. PNRG’s current Value Trend Rating is C and the prior Rating was B. Details supporting this lower rating are included in our next report.
Recent Price Action
Primeenergy Resources Corp (NASDAQ: PNRG) stock declined slightly by -0.5% on 4/26/24. The stock closed at $101.97. However, exceptionally low trading volume at 41% of normal accompanied the decline. The stock has been weak relative to the market over the last nine months but has risen 2.2% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, PNRG is expected to continue to be a Value Builder.
Primeenergy Resources has a current Value Trend Rating of C (Neutral). This rating combines contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Primeenergy Resources has a good Appreciation Score of 78 but a slightly negative Power Rating of 36, producing the Neutral Value Trend Rating.
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