Option chain shows key data for PrimeEnergy Resources's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for PrimeEnergy Resources.

PrimeEnergy Resources (NASDAQ:PNRG) Stock, Option Chain

PrimeEnergy Resources

PrimeEnergy Resources Corp is an independent oil and natural gas company that is engaged in acquiring, developing, and producing oil and natural gas. It owns producing and non-producing properties located in Texas and Oklahoma. The company's business activities include development and exploratory drilling and provide well servicing support operations for many of the onshore oil and gas wells through its subsidiaries. It is also active in the acquisition of producing oil and gas properties through joint ventures with industry partners.

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With U.S. stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows:

Zoom Video, Agilent And 3 Stocks To Watch Heading Into Monday

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The most overbought stocks in the energy sector presents an opportunity to go short on these overvalued companies.

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Contrary to 2021, when equity markets were in a bull run, 2022 has served as a not-so-gentle reminder that the stock market does not give free gifts. The macro attitude that is pushing the markets lower has been influenced by worries about a recession, geopolitical tensions, the energy crisis, and record inflation.

Why Lose Money In A Bear Market? These Stocks Are Bucking The Trend In 2022

PrimeEnergy Resources Corporation - Common Stock

PrimeEnergy Resources Corp

Clint Hurt, Director at PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>), executed a substantial insider sell on August 19, according to an SEC filing.
What Happened: Hurt's decision to sell 2,511 shares of PrimeEnergy Resources was revealed in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000056868/000143774924027255//Archives/edgar/data/56868/000143774924027255/0001437749-24-027255-index.htm">U.S. Securities and Exchange Commission</a> on Monday. The total value of the sale is $324,370.
During Tuesday's morning session, PrimeEnergy Resources shares up by 0.29%, currently priced at $133.5.
<h3>All You Need to Know About PrimeEnergy Resources</h3>
PrimeEnergy Resources Corp is an independent oil and natural gas company that is engaged in acquiring, developing, and producing oil and natural gas. It owns producing and non-producing properties located in Texas and Oklahoma. The company's business activities include development and exploratory drilling and provide well servicing support operations for many of the onshore oil and gas wells through its subsidiaries. It is also active in the acquisition of producing oil and gas properties through joint ventures with industry partners.
<h3>Financial Milestones: PrimeEnergy Resources's Journey</h3>
Revenue Growth: Over the 3 months period, PrimeEnergy Resources showcased positive performance, achieving a revenue growth rate of 118.2% as of 30 June, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Energy sector, the company excelled with a growth rate higher than the average among peers.
Exploring Profitability:
<ul>
<li>
Gross Margin: The company maintains a high gross margin of 44.46%, indicating strong cost management and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): PrimeEnergy Resources's EPS is significantly higher than the industry average. The company demonstrates a robust bottom-line performance with a current EPS of 11.08.
</li>
</ul>
Debt Management: PrimeEnergy Resources's debt-to-equity ratio is below the industry average at 0.02, reflecting a lower dependency on debt financing and a more conservative financial approach.
Insights into Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: The Price to Earnings ratio of 7.17 is lower than the industry average, indicating potential undervaluation for the stock.
</li>
<li>
Price to Sales (P/S) Ratio: With a relatively high Price to Sales ratio of 1.92 as compared to the industry average, the stock might be considered overvalued based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio of 2.27 trails industry averages, indicating a potential disparity in market valuation that could be advantageous for investors.
</li>
</ul>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Delving Into the Significance of Insider Transactions</h3>
While insider transactions provide valuable information, they should be part of a broader analysis in making investment decisions.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Transaction Codes Worth Your Attention</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000056868">Check Out The Full List Of PrimeEnergy Resources's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Trades

PrimeEnergy Resources Director Trades $324K In Company Stock

A substantial insider sell was reported on August 19, by Clint Hurt, Board Member at PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>), based on the recent SEC filing.
What Happened: Hurt's recent Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000056868/000143774924027264//Archives/edgar/data/56868/000143774924027264/0001437749-24-027264-index.htm">U.S. Securities and Exchange Commission</a> on Monday unveiled the sale of 2,511 shares of PrimeEnergy Resources. The total transaction value is $324,370.
PrimeEnergy Resources's shares are actively trading at $133.12, experiencing a down of 0.0% during Tuesday's morning session.
<h3>Delving into PrimeEnergy Resources's Background</h3>
PrimeEnergy Resources Corp is an independent oil and natural gas company that is engaged in acquiring, developing, and producing oil and natural gas. It owns producing and non-producing properties located in Texas and Oklahoma. The company's business activities include development and exploratory drilling and provide well servicing support operations for many of the onshore oil and gas wells through its subsidiaries. It is also active in the acquisition of producing oil and gas properties through joint ventures with industry partners.
<h3>PrimeEnergy Resources's Economic Impact: An Analysis</h3>
Revenue Growth: PrimeEnergy Resources's remarkable performance in 3 months is evident. As of 30 June, 2024, the company achieved an impressive revenue growth rate of 118.2%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Energy sector, the company excelled with a growth rate higher than the average among peers.
Profitability Metrics: Unlocking Value
<ul>
<li>
Gross Margin: With a high gross margin of 44.46%, the company demonstrates effective cost control and strong profitability relative to its peers.
</li>
<li>
Earnings per Share (EPS): PrimeEnergy Resources's EPS is notably higher than the industry average. The company achieved a positive bottom-line trend with a current EPS of 11.08.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.02.
Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: The P/E ratio of 7.17 is lower than the industry average, implying a discounted valuation for PrimeEnergy Resources's stock.
</li>
<li>
Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 1.92 suggests overvaluation in the eyes of investors, considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): PrimeEnergy Resources's EV/EBITDA ratio, lower than industry averages at 2.27, indicates attractively priced shares.
</li>
</ul>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Uncovering the Importance of Insider Activity</h3>
Insider transactions, although significant, should be considered within the larger context of market analysis and trends.
Within the legal framework, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities as per Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
The initiation of a new purchase by a company insider serves as a strong indication that they expect the stock to rise.
However, insider sells may not always signal a bearish view and can be influenced by various factors.
<h3>Understanding Crucial Transaction Codes</h3>
When analyzing transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase,while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000056868">Check Out The Full List Of PrimeEnergy Resources's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Massive Insider Trade At PrimeEnergy Resources

PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>) reported quarterly earnings of $7.77 per share. This is a 103.4 percent increase over earnings of $3.82 per share from the same period last year. The company reported $64.83 million in sales this quarter. This is a 81.49 percent increase over sales of $35.72 million the same period last year.

PrimeEnergy Resources Q2 EPS $7.77 Up From $3.82 YoY, Sales $64.83M Up From $35.72M YoY

Clint Hurt, Director at PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>), reported an insider sell on July 22, according to a new SEC filing. 
What Happened: According to a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000056868/000143774924023167//Archives/edgar/data/56868/000143774924023167/0001437749-24-023167-index.htm">U.S. Securities and Exchange Commission</a> on Monday, Hurt sold 2,476 shares of PrimeEnergy Resources. The total transaction value is $298,395.
The latest update on Tuesday morning shows PrimeEnergy Resources shares up by 1.34%, trading at $118.3.
<h3>Delving into PrimeEnergy Resources's Background</h3>
PrimeEnergy Resources Corp is an independent oil and natural gas company that is engaged in acquiring, developing, and producing oil and natural gas. It owns producing and non-producing properties located in Texas and Oklahoma. The company's business activities include development and exploratory drilling and provide well servicing support operations for many of the onshore oil and gas wells through its subsidiaries. It is also active in the acquisition of producing oil and gas properties through joint ventures with industry partners.
<h3>Understanding the Numbers: PrimeEnergy Resources's Finances</h3>
Revenue Growth: PrimeEnergy Resources displayed positive results in 3 months. As of 31 March, 2024, the company achieved a solid revenue growth rate of approximately 91.1%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Energy sector, the company excelled with a growth rate higher than the average among peers.
Profitability Metrics:
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 40.59%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): PrimeEnergy Resources's EPS is a standout, portraying a positive bottom-line trend that exceeds the industry average with a current EPS of 6.27.
</li>
</ul>
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.05.
Valuation Overview:
<ul>
<li>
Price to Earnings (P/E) Ratio: The current P/E ratio of 7.97 is below industry norms, indicating potential undervaluation and presenting an investment opportunity.
</li>
<li>
Price to Sales (P/S) Ratio: With a higher-than-average P/S ratio of 2.11, PrimeEnergy Resources's stock is perceived as being overvalued in the market, particularly in relation to sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an EV/EBITDA ratio lower than industry averages at 2.61, PrimeEnergy Resources could be considered undervalued.
</li>
</ul>
Market Capitalization Perspectives: The company's market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Uncovering the Importance of Insider Activity</h3>
Emphasizing the importance of a comprehensive approach, considering insider transactions is valuable, but it's crucial to evaluate them in conjunction with other investment factors.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Breaking Down the Significance of Transaction Codes</h3>
When it comes to transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> tend to focus on those in the open market, detailed in Table I of the Form 4 filing. A P in Box 3 denotes a purchase, while S indicates a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000056868">Check Out The Full List Of PrimeEnergy Resources's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insider Transaction: Clint Hurt Sells $298K Worth Of PrimeEnergy Resources Shares

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AESI

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TALO

WFRD

Shares of several oil & gas companies are trading lower following an OPEC+ meeting in which members said they would start phasing out voluntary production cuts in October.

AROC

EURN

TRGP

VIST

Shares of oil and gas stocks are trading lower amid a drop in the price in crude.

<h3>Understanding Value Stocks</h3>
A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. 
<h2>Benzinga Insights has compiled a list of value stocks in the energy sector that may be worth watching:</h2>
<ol>
<li>PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>) - P/E: 7.79</li>
<li>RPC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RES#NYSE">RES</a>) - P/E: 6.72</li>
<li>ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) - P/E: 8.29</li>
<li>San Juan Basin Royalty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SJT#NYSE">SJT</a>) - P/E: 3.06</li>
<li>SilverBow Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBOW#NYSE">SBOW</a>) - P/E: 2.19</li>
</ol>
This quarter, PrimeEnergy Resources experienced an increase in earnings per share, which was $3.82 in Q2 and is now $4.13. RPC has reported Q3 earnings per share at $0.08, which has decreased by 73.33% compared to Q2, which was 0.3. Its most recent dividend yield is at 1.84%, which has increased by 0.05% from 1.79% in the previous quarter.
Most recently, ProPetro Holding reported earnings per share at $0.31, whereas in Q2 earnings per share sat at $0.34. San Juan Basin Royalty's earnings per share for Q3 sits at $0.08, whereas in Q2, they were at 0.17. The company's most recent dividend yield sits at 2.61%, which has decreased by 0.18% from 2.79% last quarter. 
SilverBow Resources saw an increase in earnings per share from 1.1 in Q2 to $2.94 now. 
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

PUMP

SBOW

A Look Into Energy Sector Value Stocks

With U.S. stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Agilent Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/a#NYSE">A</a>) to report quarterly earnings at $1.35 per share on revenue of $1.67 billion after the closing bell. Agilent shares fell 0.01% to $113.14 in after-hours trading.</li>
<li>Masimo Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/masi#NASDAQ">MASI</a>)&nbsp;disclosed that the Masimo W1 medical watch has received FDA 510(k) clearance for over-the-counter and prescription use. Masimo shares gained 0.2% to $94.00 in the after-hours trading session.</li>
<li>Analysts expect Zoom Video Communications, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zm#NASDAQ">ZM</a>) to earn $1.08 per share on revenue of $1.12 billion for the latest quarter. The company will release earnings after the markets close. Zoom Video shares gained 0.5% to $64.44 in the after-hours trading session.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<ul>
<li>PrimeEnergy Resources Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pnrg#NASDAQ">PNRG</a>) reported earnings of $4.13 per share for the third quarter, down from $4.88 per share in the year-ago period. Its revenue fell to $35.360 million from $39.651 million in the year-earlier period. PrimeEnergy Resources shares gained 0.4% to close at $107.78 on Friday.</li>
<li>Analysts expect Keysight Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/keys#NYSE">KEYS</a>) to report quarterly earnings at $1.87 per share on revenue of $1.30 billion after the closing bell. Keysight shares gained 0.2% to $133.50 in after-hours trading.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/23/11/35847528/top-5-health-care-stocks-that-may-collapse-in-november"> Top 5 Health Care Stocks That May Collapse In November </a>

PrimeEnergy Q3 2023 EPS $4.13 Down From $4.88 Yoy, Revenue $35.360M Down From $39.651M YoY

PrimeEnergy Resources Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>) (&quot;PrimeEnergy&quot; or &quot;Company&quot;) announced today that the Company was added to the broad-market Russell 2000 Index at the conclusion of the 2023 Russell Indexes annual reconstitution, effective at the US market opening on June 26, 2023.
&quot;We are pleased to have earned our inclusion in the Russell 2000&reg; Index, one of the most widely cited performance benchmarks for U.S. small-cap companies,&quot; said Beverly Cummings, Vice President and CFO of PrimeEnergy. &quot;This is an important event for PrimeEnergy as we continue to execute the development of our acreage position in the Permian Basin and Oklahoma.&quot; During the&nbsp;second quarter&nbsp;of 2023, the Company added the first production from 18 wells completed in 2023 and currently has 7 additional wells in various stages of completion activities with ConocoPhillips Corporation and Apache Corporation. The development plan includes the drilling of additional wells during the second half of 2023. The Company has a revolving line of credit of&nbsp;$60 million&nbsp;in place which is totally undrawn as of June 30, 2023.
PrimEnergy is an independent oil and natural gas company actively engaged in acquiring, developing and producing oil and natural gas, and providing oilfield services, primarily in Texas and Oklahoma. The Company&#39;s common stock is traded on the Nasdaq Stock Market under the symbol PNRG. If you have any questions on this release, please contact Connie Ng at (713) 735-0000 ext 6416.

PrimeEnergy Resources Corporation Joins The Russell 2000 Index

<h3>Understanding Value Stocks</h3>
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. 
<h2>The following stocks are considered to be notable value stocks in the energy sector:</h2>
<ol>
<li>PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>) - P/E: 6.39</li>
<li>SM Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>) - P/E: 3.02</li>
<li>Kosmos Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) - P/E: 8.47</li>
<li>Liberty Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>) - P/E: 4.31</li>
<li>GasLog Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLOP#NYSE">GLOP</a>) - P/E: 4.95</li>
</ol>
PrimeEnergy Resources saw a decrease in earnings per share from 4.99 in Q4 to $0.53 now. SM Energy's earnings per share for Q1 sits at $1.33, whereas in Q4, they were at 1.29. Most recently, the company reported a dividend yield of 1.97%, which has decreased by 0.19% from last quarter's yield of 2.16%.
Kosmos Energy saw a decrease in earnings per share from 0.23 in Q4 to $0.16 now. Its most recent dividend yield is at 3.64%, which has increased by 0.77% from 2.87% in the previous quarter.
Liberty Energy saw an increase in earnings per share from 0.82 in Q4 to $0.9 now. Most recently, the company reported a dividend yield of 1.51%, which has increased by 0.16% from last quarter's yield of 1.35%.
GasLog Partners saw a decrease in earnings per share from 0.74 in Q4 to $0.62 now. Most recently, the company reported a dividend yield of 0.47%, which has decreased by 0.1% from last quarter's yield of 0.57%.
The Significance: A value stock may need some time to rebound from its undervalued position. The risk of investing in a value stock is that this emergence may never materialize.

GLOP

PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>) reported quarterly earnings of $0.53 per share. This is a 86.98 percent decrease over earnings of $4.07 per share from the same period last year. The company reported $22.65 million in sales this quarter. This is a 13.59 percent decrease over sales of $26.21 million the same period last year.

PrimeEnergy Resources Q1 EPS $0.53 Down From $4.07 YoY, Sales $22.65M Down From $26.21M YoY

PrimeEnergy Resources Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>):
<table cellspacing="0">
<tbody>
<tr>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="8" rowspan="1">
Year Ended December 31,
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="2" rowspan="1">
2022
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
2021
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
Increase / (Decrease)
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Revenues (In 000&#39;s)
</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
125,087
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
72,458
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
52,629
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Net Income (In 000&#39;s)
</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
48,664
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
2,098
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
46,566
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Earnings per Common Share:
</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Basic
</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
24.91
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
1.05
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
23.86
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Diluted
</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
17.95
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
0.76
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
17.19
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Shares Used in Calculation of:
</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Basic EPS
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
1,953,916
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
1,992,077
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
</tr>
<tr>
<td colspan="1" rowspan="1">
Diluted EPS
</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
2,711,170
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
2,744,162
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
</tr>
</tbody>
</table>
Oil and gas production and the average prices received (excluding gains and losses from derivatives) for the years ended December 31, 2022 and 2021, were as follows:
<table cellspacing="0">
<tbody>
<tr>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="7" rowspan="1">
Years ended
			December 31,
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="2">
Increase /
			(Decrease)
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="2">
Increase /
			(Decrease)
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">
2022
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="3" rowspan="1">
2021
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Barrels of Oil Produced
</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
939,000
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
738,000
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
201,000
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
27.24
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Average Price Received
</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
96.70
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
68.39
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
28.31
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
41.40
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Oil Revenue (In 000&#39;s)
</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
90,803
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
50,474
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
40,329
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
79.90
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Mcf of Gas Sold
</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
3,325,000
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
3,236,000
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
89,000
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
2.75
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Average Price Received
</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
5.54
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
3.53
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
2.01
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
57.00
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Gas Revenue (In 000&#39;s)
</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
18,428
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
11,432
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
6,996
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
1.20
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Barrels of Natural Gas Liquids Sold
</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
417,000
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
416,000
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
&nbsp;
</td>
<td colspan="1" rowspan="1">
1,000
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
0.24
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Average Price Received
</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
35.70
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
26.97
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
8.73
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
32.37
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Natural Gas Liquids Revenue (In 000&#39;s).
</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
14,887
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
11,220
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
3,667
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
32.68
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
<tr>
<td colspan="2" rowspan="1">
Total Oil &amp; Gas Revenue (In 000&#39;s)
</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
124,118
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
73,126
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">
$
</td>
<td colspan="1" rowspan="1">
50,992
</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="2" rowspan="1">
69.73
</td>
<td colspan="1" rowspan="1">
%
</td>
</tr>
</tbody>
</table>
Proved reserves at December 31, 2022, were 7,171,000 barrels of oil, 4,330,000 barrels of natural gas liquids, and 31,307,000 thousand cubic feet of natural gas; or 16,719,000 barrels of oil equivalents.
Our current bank facility provides for a credit line of&nbsp;$60 million. As of April 14, 2023, it was totally unused.

PrimeEnergy Resources Corporation Announces Year End Production And Financial Results; FY22 EPS $17.95 Vs $0.76 YoY; Revenue $125.087M Vs $72.485M YoY

The most overbought stocks in the energy sector presents an opportunity to go short on these overvalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70.</a>
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Riley Exploration Permian, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/repx#NYSE">REPX</a>)</h3>
<ul>
<li>Riley Exploration Permian reported better-than-expected quarterly sales. &quot;2022 was another record year for Riley Permian, with our out-performance continuing through the fourth quarter,&quot; said Riley Permian Chairman and CEO, Bobby Riley. The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/REPX">52-week high of $47.79 </a>.</li>
<li>RSI Value: 75.33</li>
<li>REPX Price Action: Shares of Riley Exploration Permian fell 1.5% to close at $44.91 on Wednesday.</li>
</ul>
<h3>Denbury Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/den#NYSE">DEN</a>)</h3>
<ul>
<li>Denbury posted weaker-than-expected quarterly results. Chris Kendall, Denbury&rsquo;s President and Chief Executive Officer, said, &quot;Our 2023 capital program furthers our strategy to build a world-class CCUS network, unparalleled both in scale and reliability, that delivers transformational growth for our shareholders.&quot; The company&rsquo;s <a href="https://www.benzinga.com/quote/DEN"> stock has a 52-week high </a> of $104.05.</li>
<li>RSI Value: 72.26</li>
<li>DEN Price Action: Shares of Denbury fell 0.1% to close at $94.46 on Wednesday.</li>
</ul>
<h3>PrimeEnergy Resources Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pnrg#NASDAQ">PNRG</a>)</h3>
<ul>
<li>PrimeEnergy Resources shares gained around 9% over the past month. The company has a <a href="https://www.benzinga.com/quote/PNRG"> 52-week high </a> of $105.00.</li>
<li>RSI Value: 71.66</li>
<li>PNRG Price Action: Shares of PrimeEnergy Resources rose 0.6% to close at $96.40 on Wednesday.</li>
</ul>
<h3>Geospace Technologies Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/geos#NASDAQ">GEOS</a>)</h3>
<ul>
<li>Geospace Technologies posted a narrower Q1 loss. Walter R. (&quot;Rick&quot;) Wheeler, President and CEO of the Company said, &quot;We&rsquo;re pleased to see that revenue for our first quarter of fiscal year 2023 exceeded $31 million. This is an increase of 73% over last year&rsquo;s same period and represents the Company&rsquo;s highest amount of quarterly revenue in the last eight-and-half years, namely since June of 2014.&quot; The company&rsquo;s 52-week high is $8.69.</li>
<li>RSI Value: 71.55</li>
<li>GEOS Price Action: Shares of Geospace Technologies rose 2.5% to close at $8.69 on Wednesday.</li>
</ul>
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/04/31677472/6m-bet-on-this-technology-stock-check-out-these-3-stocks-insiders-are-buying"> $6M Bet On This Technology Stock? Check Out These 3 Stocks Insiders Are Buying</a>

Rothschild Robert de, 10% Owner at PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>), reported a large insider sell on November 9, according to a new SEC filing. 
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000056868/000089924322035447//Archives/edgar/data/56868/000089924322035447/0000899243-22-035447-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday showed that de sold 4,821 shares of PrimeEnergy Resources. The total transaction amounted to $368,131. 
PrimeEnergy Resources shares are trading up 1.32% at $80.4 at the time of this writing on Thursday morning.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Why Insider Transactions Are Important</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Important Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000056868">Check Out The Full List Of PrimeEnergy Resources's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

PrimeEnergy Resources 10% Owner Sold $368K In Company Stock

Rothschild Robert de, 10% Owner at PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>), reported a large insider sell on November 9, according to a new SEC filing. 
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000056868/000089924322035447//Archives/edgar/data/56868/000089924322035447/0000899243-22-035447-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday showed that de sold 4,821 shares of PrimeEnergy Resources. The total transaction amounted to $368,131. 
PrimeEnergy Resources shares are trading down 0.0% at $79.35 at the time of this writing on Thursday morning.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>The Importance of Insider Transactions</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Important Transaction Codes</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000056868">Check Out The Full List Of PrimeEnergy Resources's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

10% Owner of PrimeEnergy Resources Sold $368K In Stock

Rothschild Robert de, 10% Owner at PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>), reported a large insider sell on October 25, according to a new SEC filing.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000056868/000089924322034124//Archives/edgar/data/56868/000089924322034124/0000899243-22-034124-index.htm">U.S. Securities and Exchange Commission</a> on Tuesday showed that de sold 1,849 shares of PrimeEnergy Resources. The total transaction amounted to $142,905.
PrimeEnergy Resources shares are trading down 0.14% at $71.5 at the time of this writing on Wednesday morning.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Why Insider Transactions Are Important</h3>
Insider transactions shouldn&#39;t be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.
In legal terms, an &quot;insider&quot; refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.
<h3>Transaction Codes To Focus On</h3>
<a href="https://www.benzinga.com/money/investing-tools">Investors</a> prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000056868">Check Out The Full List Of PrimeEnergy Resources&#39;s Insider Trades.</a>
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

PrimeEnergy Resources 10% Owner Trades $142K In Company Stock

Contrary to 2021, when equity markets were in a bull run, 2022 has served as a not-so-gentle reminder that the stock market does not give free gifts. The macro attitude that is pushing the markets lower has been influenced by worries about a recession, geopolitical tensions, the energy crisis, and record inflation.
Still, with a&nbsp;strong labor market, and rising wages for workers to defend themselves against a recession; Federal Reserve chairman Jerome Powell&nbsp;reminded Americans at the annual Jackson Hole Symposium last week that the Fed is committed to bringing inflation down to its target 2% rate &mdash; even at the cost of causing some pain to households and businesses along the way.
Powell&nbsp;shattered the &quot;Fed Pivot&quot; narrative in less than 10 minutes, jolting the markets. The Nasdaq fell 3.94%, the S&amp;P 500 dropped 3.37%, and the Dow Jones Industrial Average dropped 3.03% before the end of trading, making August 26th the worst day for the markets since June 12th. 
Read more:&nbsp;<a href="https://www.benzinga.com/markets/asia/22/08/28545758/this-energy-company-has-earned-more-than-apple-meta-microsoft-and-tesla-combined-in-q2">This Energy Company Earned More Than Apple, Meta, Microsoft And Tesla Combined In Q2</a>
According to Pete Najarian&rsquo;s <a href="https://marketrebellion.com/?utm_source=linktree&amp;utm_medium=marketrebellion">MarketRebellion</a>, 494 of the&nbsp;S&amp;P 500 stocks closed in the red following the chairman&#39;s speech at Jackson Hole, only 5 stocks closed in the green, and one stock &mdash; Nielsen Holdings Plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nlsn#NYSE">NLSN</a>) &mdash; closed flat.
An investor may be wondering where to secure their capital throughout the protracted downturn while the macroeconomic environment stays on the defensive side; the answer seems obvious: energy.
Energy beat all other S&amp;P 500 sectors, dropping only 1.17% for the week.&nbsp;Despite finishing down on Friday,&nbsp;Energy has continued to be the year&#39;s biggest winner, returning 51% overall compared to utilities, the second-best sector, which has returned only 5.6% so far in 2022. 
Read more:&nbsp;<a href="https://www.benzinga.com/trading-ideas/long-ideas/22/08/28604628/here-is-a-high-yielding-small-cap-dividend-stock-in-the-utilities-sector">Hunting For Dividend Yield In Utilities? This Small Cap Name Can Light Up Your Portfolio</a>
In addition to a 50% increase between January&nbsp;2020 and December&nbsp;2021, <a href="https://blogs.worldbank.org/developmenttalk/energy-shock-could-sap-global-growth-years">WorldBankBlogs reports</a> that the energy price index of the World Bank grew by 26.3% between January&nbsp;and April 2022.
The substantial increase in the prices of coal, oil, and natural gas are reflected in this spike. The nominal increase in crude oil prices from April 2020 to April 2022 was 305%, which is the highest increase for any comparable two-year period since the 1970s.
In the meantime, nominal prices for gas and coal have all risen to historic highs. It should be noted that&nbsp;only <a href="https://tradingeconomics.com/commodity/eu-natural-gas">European natural gas prices</a> have risen to record highs and continue to be significantly higher than their last peak in 2008. While oil prices are still below average, coal prices are very near to their 2008 peak. 
Check out <a href="https://www.benzinga.com/futures/CL">Benzinga&#39;s crude oil futures page</a>.
The average price of energy commodities is now anticipated to increase by 46% in 2023 compared to predictions made in January&nbsp;2022. 
Here are some low-float energy names that have made big moves, and may have more room to run if heavy buying volume comes in:
PrimeEnergy Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pnrg#NASDAQ">PNRG</a>) 
NCS Multistage Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ncsm#NASDAQ">NCSM</a>) 
Mexco Energy Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mxc#NYSE">MXC</a>) 
CKX Lands Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ckx#NYSE">CKX</a>) 
Indonesia Energy Corp Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/indo#NYSE">INDO</a>)
The following dependable energy companies offer investors peace of mind that their capital is secure:
Valero Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vlo#NYSE">VLO</a>) 
ConocoPhillips (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cop#NYSE">COP</a>) 
Schlumberger NV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slb#NYSE">SLB</a>) 
Occidental Petroleum Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oxy#NYSE">OXY</a>) 
Exxon Mobil Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>)
Here are some short squeeze energy candidates that could go for a wild ride:
Vertex Energy Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vtnr#NASDAQ">VTNR</a>) 
Chesapeake Energy Ord Shs (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chk#NASDAQ">CHK</a>) 
CNX Resources Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cnx#NYSE">CNX</a>) 
Gevo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gevo#NASDAQ">GEVO</a>) 
Centennial Resource Development Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdev#NASDAQ">CDEV</a>)

&nbsp;
<h3>Gainers</h3>
<ul>
<li>ENGlobal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENG#NASDAQ">ENG</a>) stock rose 18.65% to $2.29 during Wednesday&#39;s regular session. The current volume of 3.5 million shares is 180.97% of ENGlobal&#39;s average full-day volume over the last 100 days (last updated at 12:30 EST). The company&#39;s market cap stands at $80.4 million.</li>
<li>Tellurian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NASDAQ">TELL</a>) stock increased by 13.66% to $3.54. As of 12:30 EST, Tellurian&#39;s stock is trading at a volume of 19.7 million, which is 175.06% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $1.6 billion.</li>
<li>SM Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>) shares moved upwards by 12.58% to $22.81. The current volume of 2.1 million shares is 77.22% of SM Energy&#39;s average full-day volume over the last 100 days (last updated at 12:30 EST). The market value of their outstanding shares is at $2.7 billion.</li>
<li>Aemetis (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMTX#NASDAQ">AMTX</a>) stock increased by 12.5% to $14.66. Trading volume for Aemetis&#39;s stock is 792.8K as of 12:30 EST. This is 76.99% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $464.5 million.</li>
<li>SandRidge Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SD#NYSE">SD</a>) stock rose 11.01% to $12.0. As of 12:30 EST, SandRidge Energy&#39;s stock is trading at a volume of 1.0 million, which is 155.5% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $439.1 million.</li>
<li>Laredo Petroleum (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPI#NYSE">LPI</a>) stock rose 10.64% to $68.9. As of 12:30 EST, this security is trading at a volume of 604.8K shares, making up 80.66% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $1.1 billion.</li>
</ul>
&nbsp;
&nbsp;
<h3>Losers</h3>
&nbsp;
<ul>
<li>NCS Multistage Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCSM#NASDAQ">NCSM</a>) stock fell 6.64% to $27.7 during Wednesday&#39;s regular session. The market value of their outstanding shares is at $65.9 million.</li>
<li>NextDecade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXT#NASDAQ">NEXT</a>) shares fell 6.32% to $2.52. Trading volume for this security as of 12:30 EST is 700.1K, which is 125.51% of its average full-day volume over the last 100 days. The company&#39;s market cap stands at $310.7 million.</li>
<li>PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>) stock decreased by 5.6% to $59.48. The market value of their outstanding shares is at $118.6 million.</li>
</ul>
&nbsp;
&nbsp;

Intraday Update

AMTX

TELL

9 Energy Stocks Moving In Wednesday's Intraday Session

PrimeEnergy Resources (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNRG#NASDAQ">PNRG</a>) reported quarterly losses of $(1.20) per share. This is a 61.78 percent increase over losses of $(3.14) per share from the same period last year. The company reported $13.66 million in sales this quarter. This is a 87.73 percent increase over sales of $7.28 million the same period last year.

PrimeEnergy Resources Q2 EPS $(1.20) Up From $(3.14) YoY, Sales $13.66M Up From $7.28M YoY

While the energy sector demonstrated resilience last year, falling natural gas prices could pose challenges this year. Industry leader Exxon Mobil (XOM) recently released its earnings, which paints an unclear picture. Let's analyze and find out if now could be an ideal time to buy the stock. Read on to find out... Leading integrated oil and gas company Exxon Mobil Corporation (<a href="https://stocknews.com/stock/XOM/">XOM</a>) just released its first-quarter fiscal 2024 results. This article outlines why it might be prudent to exercise patience for a more opportune entry point in the stock.
Analysts expected falling natural gas prices and refining margins to impact XOM this quarter. The company's earnings stood at $8.22 billion, equivalent to $2.06 per share, slightly below the estimated earnings per share of $2.20. Nonetheless, reported revenue closely aligned with analyst expectations, totaling $78.35 billion.
Focusing on its segments, the Upstream segment saw earnings decline to $5.70 billion due to lower natural gas prices and divestments, while the Energy Products segment earned $1.40 billion amid weaker refining margins. Conversely, the Chemical Products segment thrived, with earnings reaching $785 million due to increased margins and volume growth in performance chemicals.
Looking at the energy sector, crude prices rose slightly in the first quarter this year, notably breaking $80 in mid-March due to geopolitical tensions. However, natural gas prices dropped by about 20% year-over-year. This, along with lower refining margins from early 2023 highs, poses challenges for the energy sector. Further, the US gas market's oversupply worsens the situation, especially with strong WTI pricing affecting US gas producers.
XOM's stock has shown impressive growth, gaining 21.4% in price year-to-date and 18.8% over the past three months. The stock closed the last trading session at $121.33, hovering close to its 52-week high of $123.75.
Now, let us discover the influential factors shaping XOM's performance in the months ahead:
Boosting Growth in Guyana's Offshore Sector
XOM recently announced the approval of its Whiptail project off Guyana's coast. This significant development is projected to add 250,000 barrels per day by 2027, demonstrating XOM's commitment to growth and community development. With a budget of $12.70 billion, this project underscores the potential for future success and collaboration with Guyana.
Grim Financials
In the fiscal fourth quarter ended March 31, 2024, XOM's total revenues and other income decreased 4% year-over-year to $83.08 billion. Its non-GAAP earnings, excluding identified items, fell 29.2% over the prior-year quarter to $8.22 billion. Also, its non-GAAP earnings, excluding identified items per common share, stood at $2.06, representing a decline of 27.2% year-over-year.
Moreover, as of March 31, 2024, XOM's total current liabilities came in at $71.92 billion, compared to $65.32 billion as of December 31, 2024.
Uncertain Analyst Estimates
While Street expects XOM'S EPS to decline 3.9% year-over-year to $9.15, its revenue is likely to rise 1.2% from the previous year to $348.64 billion in the fiscal year 2024.
Looking further, for fiscal year 2025, its EPS is expected to rise 3.3% year-over-year to $9.45, but its revenue is projected to fall 4.2% year-over-year to $334.08 billion.
High Profitability
In terms of the trailing-12-month levered FCF margin, XOM's 7.62% is 15.9% higher than the 6.57% industry average. Its 18.01% trailing-12-month ROTC and ROTA of 12.42% and 9.57% are 49.9% and 44% higher than the 8.29% and 6.64% industry averages.
Furthermore, the stock's 0.91x trailing-12-month <a href="https://www.investopedia.com/terms/a/assetturnover.asp">asset turnover ratio</a> is 75.6% higher than the industry average of 0.52x.
Mixed Valuation
In terms of forward EV/EBITDA, XOM's 6.76x is 15.5% higher than the 5.86x industry average. Its 8.65x forward Price/Cash flow is 61.6% higher than the industry average of 5.35x.
However, the stock's forward EV/S multiple of 1.44 is 26.6% lower than the 1.97 industry average. Its forward P/S multiple of 1.37 is 7.6% lower than the industry average of 1.49.
POWR Ratings Reflect Uncertainty
XOM has an overall rating of C, equating to a Neutral in our <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. XOM's 0.96 beta justifies its C grade for Stability.
It also has a C grade for Sentiment, which is in sync with its uncertain analyst estimates.
XOM is ranked #34 out of 82 stocks in the C-rated <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry.
Click <a href="https://stocknews.com/stock/XOM/">here</a> to access XOM's Growth, Momentum, and Quality ratings.
Bottom Line
Oil companies' profitability sharply increased last year due to surging demand and supply constraints triggered by the Ukraine-Russia conflict. While political instabilities should bode well for the energy sector this year as well, falling natural gas prices and refining margins could present obstacles in the sector.
Despite XOM's strong profitability metrics, its poor financial results in the first quarter and mixed valuations warrant a cautious approach. Given the prevailing uncertainties, it might be prudent to wait for a more favorable entry point in the stock.
How Does Exxon Mobil Corporation (XOM) Stack Up Against Its Peers?
While XOM's overall POWR Rating of C, which equates to a Neutral rating, reflects uncertainties ahead, you may check out the stocks within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry possessing an A (Strong Buy) and B (Buy) rating:
Adams Resources &amp; Energy, Inc. (<a href="https://stocknews.com/stock/AE/">AE</a>)
Secure Energy Services Inc. (<a href="https://stocknews.com/stock/SECYF/">SECYF</a>)
PrimeEnergy Resources Corporation (<a href="https://stocknews.com/stock/PNRG/">PNRG</a>)
To access more Buy-rated Energy – Oil &amp; Gas stocks that are set to outperform, click <a href="https://stocknews.com/category/energy-oil-gas/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
XOM shares fell $2.13 (-1.76%) in premarket trading Friday. Year-to-date, XOM has gained 22.48%, versus a 6.26% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/xom-ae-secyf-pnrg-exxon-mobil-xom-earnings-analysis-ideal-time-to-buy/>Exxon Mobil (XOM) Earnings Analysis: Ideal Time to Buy?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Exxon Mobil (XOM) Earnings Analysis: Ideal Time to Buy?

PrimeEnergy Resources GAAP EPS of $4.41, revenue of $42.99M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
PrimeEnergy Resources (NASDAQ:<a href="https://investorplace.com/stock-quotes/pnrg-stock-quote/">PNRG</a>) just reported results for the first quarter of 2024.<ul><li>PrimeEnergy Resources reported earnings per share of $4.41.</li><li>The company reported revenue of $42.42 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/pnrg-stock-earnings-primeenergy-resources-for-q1-of-2024/">PNRG Stock Earnings: PrimeEnergy Resources Reported Results for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

PNRG Stock Earnings: PrimeEnergy Resources Reported Results for Q1 2024

With solid energy demand, tight supplies aggravated by extended OPEC+ oil production cuts and geopolitical instability, and innovations in exploration and drilling technologies, the oil and gas industry is well-poised to experience robust expansion. Thus, it could be wise to invest in top oil stocks EOG Resources (EOG), Energy Transfer (ET), VAALCO Energy (EGY), and PrimeEnergy Resources (PNRG), set to dominate this month. Read on... Rapidly growing energy consumption globally and constrained supplies amid extended OPEC+ oil output cuts will likely drive oil prices, creating tailwinds for the oil and gas industry. The sector is further backed by increasing investments in oil drilling activities, supportive government initiatives, and numerous technological advancements.
Given the industry's bright prospects, investors could consider buying fundamentally sound oil stocks EOG Resources, Inc. (<a href="https://stocknews.com/stock/EOG/">EOG</a>), Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>), VAALCO Energy, Inc. (<a href="https://stocknews.com/stock/EGY/">EGY</a>), and PrimeEnergy Resources Corporation (<a href="https://stocknews.com/stock/PNRG/">PNRG</a>) for substantial gains.
According to the Economist Intelligence Unit (EIU) energy outlook, <a href="https://www.eiu.com/n/campaigns/energy-in-2024/#:~:text=Global%20energy%20consumption%20will%20grow,energy%20will%20rise%20by%2011%25.">global energy consumption</a> is expected to rise by 1.8% in 2024, primarily driven by solid demand in Asia. Despite high prices and supply chain disruptions, high energy consumption can be attributed to population growth, a surge in industrial activities, urbanization, and more.
Moreover, OPEC remains optimistic regarding the global oil demand. For 2024, world oil demand is expected to <a href="https://oilprice.com/Latest-Energy-News/World-News/OPEC-Remains-Optimistic-About-Global-Oil-Demand.html#:~:text=OPEC%20estimates%20that%20global%20oil,the%20first%20quarter%20of%202024.">grow by 2.2 million bpd year-over-year</a> to 104.5 million bpd, driven by "strong air travel demand and healthy road mobility, including trucking, as well as industrial, construction, and agricultural activities in non-OECD countries."
Further, OPEC's global oil demand growth forecast indicates a substantial expansion of 1.8 million bpd year-over-year, averaging 106.3 million bpd.
On Sunday, OPEC+ announced that it would <a href="https://www.reuters.com/business/energy/opec-seen-prolonging-cuts-2024-into-2025-two-sources-say-2024-06-02/#:~:text=On%20Sunday%2C%20OPEC%2B%20agreed%20to,October%202024%20to%20September%202025.">extend its deep oil output cuts into 2025</a> as the group aims to stabilize the oil market. OPEC+ members are currently slashing production by 5.86 bpd, or nearly 5.7% of global demand.
The oil and gas market is expected to grow to $9.35 trillion by 2028, exhibiting growth at a <a href="https://www.researchandmarkets.com/report/oil-gas-exploration-production#:~:text=The%20oil%20and%20gas%20market,(CAGR)%20of%206.1%25.">CAGR of 5.2%</a>. The market growth is driven by factors including expansion of resource exploration and government measures, emphasis on emission reduction solutions, an increasing preference for reservoir modeling, and investments in oil drilling activities.
Considering the favorable market trends, let's delve into the fundamentals of the top <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> stocks, beginning with the fourth choice.
Stock #4: EOG Resources, Inc. (<a href="https://stocknews.com/stock/EOG/">EOG</a>)
EOG explores for, develops, produces, and markets crude oil, natural gas liquids, and natural gas, primarily in producing basins in the U.S., the Republic of Trinidad and Tobago, and internationally.
In terms of forward non-GAAP P/E, EOG is trading at 10.44x, 8.5% lower than the industry average of 11.41x. Similarly, the stock's forward EV/EBITDA multiple of 5.24 is 10.7% lower than the industry average of 5.87. Further, its forward EV/EBIT of 7.95x is 19% lower than the industry average of 9.81x.
EOG's trailing-12-month EBITDA margin and net income margin of 56.11% and 31.27% are 64.1% and 170% higher than the respective industry averages of 34.20% and 11.58%, respectively. Also, the stock's trailing-12-month levered FCF margin of 12.91% is considerably higher than the industry average of 6.21%.
In the first quarter that ended March 31, 2024, EOG's total revenue increased 1.3% year-over-year to $6.12 billion. Its operating income was $2.27 billion for the quarter. Its adjusted net income of $1.63 billion, or $2.82 per share, indicates 3% and 4.8% growth from the year-ago value, respectively.
Also, the company's <a href="https://www.investopedia.com/terms/f/freecashflow.asp">free cash flow</a> rose 14.5% from the prior year's quarter to $1.22 billion.
Street expects EOG's revenue and EPS to increase 8.6% and 20.7% year-over-year to $6.05 billion and $3.01 for the second quarter ending June 2024, respectively. Further, EOG topped the consensus revenue estimates in each of the trailing four quarters, which is impressive.
EOG's stock gained 2.5% over the past six months and 17.6% over the past year to close the last trading session at $124.55.
EOG's bright prospects are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has an A grade for Quality and a B for Stability. EOG is ranked #12 among 79 stocks in the B-rated <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry.
<a href="https://stocknews.com/stock/EOG/">Click here</a> to access additional EOG ratings for Sentiment, Momentum, Growth, and Value.
Stock #3: Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>)
ET provides energy-related services. It owns and operates natural gas transportation pipelines and natural gas storage facilities in Texas and Oklahoma and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.
On May 28, ET and WTG Midstream, LLC entered a definitive agreement under which ET will acquire WTG in a transaction valued at approximately $3.25 billion and includes eight gas processing plants (~1.3 Bcf/d) and two more under construction (~0.4 Bcf/d). The strategic acquisition will expand ET's natural gas pipeline and processing network in the Permian Basin.
On April 24, ET announced an increase in its quarterly cash distribution to $0.3175 per common unit, $1.27 on an annualized basis, for the first quarter ended March 31, 2024. The cash distribution per common unit was paid on May 20, 2024, to unitholders of record as of the close of business on May 13, 2024, and indicates an increase of 3.3% compared to the first quarter of 2023.
ET pays an annual dividend of $1.27, which translates to a yield of 8.10% at the current share price. Its four-year average dividend yield is 9.55%. Moreover, the company's dividend payouts have increased at a CAGR of 18.1% over the past three years.
In the first quarter that ended March 31, 2024, ET's revenues increased 13.9% year-over-year to $21.63 billion. Its operating income grew 15.4% from the year-ago value to $2.38 billion. Its net income was $1.69 billion, up 16.9% from the previous year's quarter. In addition, the company's adjusted EBITDA increased 13% year-over-year to $3.88 billion.
Street expects ET's revenue for the second quarter (ending June 2024) to increase 26.2% year-over-year to $23.13 billion. The company's EPS for the ongoing quarter is expected to grow 37.9% year-over-year to $0.34. For the fiscal year 2024, the company's revenue and EPS are expected to grow 15.9% and 34.2% year-over-year to $91.09 billion and $1.46.
ET's stock has surged 12.8% over the past six months and 26.4% over the past year to close the last trading session at $15.67.
ET's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, translating to a Buy in our proprietary rating system.
The stock has an A grade for Momentum. It also has a B grade for Value, Growth, and Stability. Within the B-rated Energy – Oil &amp; Gas industry, ET is ranked #7 out of 79 stocks.
In addition to the POWR Ratings I've just highlighted, you can see ET's ratings for Quality and Sentiment <a href="https://stocknews.com/stock/ET/">here</a>.
Stock #2: VAALCO Energy, Inc. (<a href="https://stocknews.com/stock/EGY/">EGY</a>)
EGY is an independent energy company that engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids in Gabon, Egypt, Equatorial Guinea, and Canada. The company holds 58.8% interest in the Etame commercial production.
On May 29, EGY drilled, completed, and brought into production four wells in Canada. All wells were 2.75-mile lateral development wells. It expects strong initial production rates of about 500 barrels of oil per day (BOPD) for three of the four wells, with nearly 350 BOPD production for the fourth well.
On April 30, EGY acquired the Svenska Petroleum Exploration AB, an exploration and production company based in Stockholm, Sweden. Svenska's primary asset is a 27.39% non-operated working interest in the deepwater producing Baobab field in Block CI-40, offshore Cote d'Ivoire in West Africa. The net purchase price was $40.20 million fully funded by cash on hand.
The acquisition might enhance EGY's diversified portfolio by building size and scale that allows it to generate significant free cash flow and execute its strategic vision. It strategically will expand the West African focus area with a sizeable producing asset with substantial upside potential and considerable future development opportunities.
For the first quarter that ended on March 31, 2024, EGY's revenues increased 24.3% year-over-year to $100.16 million. Its operating income rose 48.9% from the year-ago value to $32.19 million. The company's net income came in at $7.69 million and $0.07 per share, up 121.5% and 133.3% year-over-year, respectively.
In addition, the company's adjusted EBITDAX of $61.74 million indicates growth of 29.1% from the prior year's quarter.
Analysts expect EGY's EPS for the second quarter (ending June 2024) to increase 18.2% year-over-year to $0.13, and its revenue is estimated to be $104.50 million in the same quarter. Moreover, the company surpassed the consensus revenue estimates in three of the four trailing quarters.
The stock has soared 37.2% over the past six months and 65.3% over the past year to close the last trading session at $6.38.
EGY's promising outlook is reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
The stock has an A grade for Sentiment and a B for Growth, Quality, and Value. Within the B-rated Energy – Oil &amp; Gas industry, EGY is ranked #4 out of 79 stocks.
<a href="https://stocknews.com/stock/EGY/">Click here</a> to access additional ratings of EGY for Momentum and Stability.
Stock #1: PrimeEnergy Resources Corporation (<a href="https://stocknews.com/stock/PNRG/">PNRG</a>)
PNRG engages in the acquisition, development, and production of oil and natural gas properties. The company owns leasehold, mineral, and royalty interests in producing and non-producing oil and gas properties. It operates nearly 534 active wells and owns non-operating interests and royalties in 952 additional wells.
In terms of trailing-12-month EV/Sales, PNRG is trading at 1.44x, 36.3% lower than the industry average of 2.25x. Likewise, the stock's trailing-12-month EV/EBITDA multiple of 2.80 is 56.6% lower than the industry average of 6.45. Also, its trailing-12-month Price/Sales of 1.45x is lower than the industry average of 1.54x.
PNRG's trailing-12-month gross profit margin and EBIT margin of 62.09% and 26.51% are 39.5% and 35.5% higher than the respective industry averages of 44.50% and 19.56%, respectively. Similarly, the stock's trailing-12-month net income margin of 26.44% is 129.5% higher than the industry average of 11.52%.
During the first quarter that ended March 31, 2024, PNRG's revenues increased 88% year-over-year to $42.99 million. The company's net income and EPS came in at $11.32 million and $4.41, indicating growth of 703% and 732% from the prior year's quarter, respectively.
Furthermore, the company's total assets stood at $332.90 million as of March 31, 2024, compared to $288.57 million as of December 31, 2023.
Shares of PNRG have surged 9.6% over the past month and 24.6% over the past year to close the last trading session at $114.
PNRG's robust prospects are reflected in its POWR Ratings. The stock has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.
The stock has a B grade for Quality, Sentiment, and Growth. PNRG is ranked #3 out of 79 stocks in the same industry.
To access additional PNRG's ratings for Value, Stability, and Momentum, <a href="https://stocknews.com/stock/PNRG/">click here</a>.
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

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EOG shares fell $0.10 (-0.08%) in premarket trading Monday. Year-to-date, EOG has gained 4.41%, versus a 11.30% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/eog-et-egy-pnrg-4-oil-stocks-set-to-dominate-in-june-2024/>4 Oil Stocks Set to Dominate in June 2024</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

4 Oil Stocks Set to Dominate in June 2024

Last month, Cenovus Energy (CVE) reported a stellar first-quarter earnings report and comfortably topped analysts' earnings and revenue estimates in the March quarter. But is CVE the key to powering up your investment portfolio in June? Let's look at its financial metrics to gauge its prospects… Canadian oil and gas company Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>) topped first-quarter profit estimates driven by higher production and increased refinery throughput. Let's look at its fundamentals to determine if this stock is the key to powering up your investment portfolio in June.
In the first quarter that ended March 31, 2024, CVE's total <a href="https://www.cenovus.com/News-and-Stories/News-releases/2024/2873027">upstream production</a> rose 2.8% year-over-year to 800,900 barrels of oil equivalent per day (boepd), reflecting scheduled maintenance in the Atlantic region. The company's quarterly refining throughput reached a record 655,200 barrels per day (bpd), with significant improvements in U.S. refining operations.
CVE's revenues increased <a href="https://mc-95523900-b89e-4513-a7cd-2165-cdn-endpoint.azureedge.net/-/media/Project/WWW/docs/investors/2024/Q1-2024-Interim-Consolidated-Financial-Statements.pdf">9.3% year-over-year</a> to C$13.40 billion ($9.73 billion), while its earnings before income tax improved 162.1% from the year-ago value to C$1.55 billion ($1.13 billion). Net earnings amounted to C$1.18 billion ($854.19 million) and C$0.62 per share, reflecting increases of 84.9% and 93.5%, respectively, from the same period last year.
CVE's cash inflows from operating activities amounted to C$1.93 billion ($1.39 billion), marking a significant turnaround from the C$286 million ($207.74 million) outflow in the prior year's quarter. Adjusted funds flow increased by 60.7% year-over-year to C$2.24 billion ($1.63 billion), while free funds flow soared 310.2% from the year-ago value to C$1.21 billion ($875.98 million).
Moreover, the company comprehensively surpassed Wall Street's EPS and revenue estimates. For the first quarter, CVE's earnings per share was 39.5% above the consensus estimate, and its revenue was 15.7% higher than the analysts' estimates.
Reflecting this strong financial health, on May 1, the company's Board of Directors announced a 29% increase in the base dividend to C$0.180 per common share, payable on June 28, 2024. Additionally, a variable dividend of C$0.135 per share was paid on May 31. Consistent with Cenovus's financial framework, this base dividend is sustainably supported by funds flow generation even at the lower end of the commodity price cycle.
CVE's annual dividend of $0.53 translates to a yield of 2.82% at the current price, compared to the four-year average dividend yield of 2.20%. Its dividend payments have grown at a robust CAGR of 209.9% over the past three years and at 22.4% CAGR over the past five years.
The stock of the oil company has gained 18.3% over the past six months and 14.1% year-to-date, closing the last trading session at $18.91.
Now, let's discuss several other factors that could influence CVE's performance in the upcoming months:
Optimistic Analyst Estimates
Street expects CVE's revenue for the fiscal second quarter (ending June 2024) to increase 14.5% year-over-year to $11.13 billion. Its EPS estimate of $0.63 for the ongoing quarter indicates a 120.1% improvement year-over-year.
Looking ahead, analysts anticipate a 10.5% increase in revenue for the fiscal year 2024 (ending December 31) to reach $42.84 billion. Similarly, EPS for the current year is expected to experience an impressive growth of 31.7% from the prior year, settling at $2.11.
Sound Historical Growth
CVE's revenue has increased at CAGRs of 41.4% and 20.2% over the past three and five years, respectively. Over the past three years, its levered FCF improved at a CAGR of 191.1%. Moreover, the company's <a href="https://www.investopedia.com/terms/e/ebitda.asp">EBITDA</a> grew at a 57.9% CAGR over the same time frame.
Discounted Valuation
In terms of forward non-GAAP PEG, CVE is trading at 0.37x, 75.3% lower than the industry average of 1.52x. Similarly, the stock's forward non-GAAP P/E and EV/EBITDA multiples of 8.98 and 4.75 are 18.3% and 17.9% lower than the industry averages of 10.99x and 5.80x, respectively.
In addition, the stock's 0.96x forward EV/Sales is 51.8% lower than the 1.98x industry average. Also, its forward Price/Sales multiple of 0.82 compares to the industry average of 1.40.
POWR Ratings Exhibit Solid Prospects
CVE's robust fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of A, translating to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by accounting for 118 distinct factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. CVE boasts a B grade for Value, which is in sync with its lower-than-industry valuation. Additionally, it also earned a B for Growth and Sentiment, reflecting its solid financial performance in the last reported quarter and optimistic analyst estimates.
Within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy - Oil &amp; Gas</a> industry, CVE is ranked #2 out of the 80 stocks.
Beyond what we've stated above, we have also rated the stock for Momentum, Stability, and Quality. Get all CVE ratings <a href="https://stocknews.com/stock/CVE/">here</a>.
Bottom Line
In addition to its impressive financial performance, the company has highlighted the transformative impact of the start-up of the <a href="https://www.reuters.com/business/energy/canadas-long-delayed-trans-mountain-oil-pipeline-set-start-operations-2024-05-01/">Trans Mountain pipeline expansion</a> (TMX) on Cenovus Energy. TMX, poised to nearly triple the oil flow to Canada's west coast to 890,000 barrels per day, stands as a transformative force in opening new global markets for the country's producers.
The commercial launch on May 1, following final regulatory approvals, symbolizes a milestone for the project and Canada's oil industry. For Canada, the fourth-largest oil producer globally, the expanded pipeline capacity is anticipated to elevate crude prices, bolster national gross domestic product, and facilitate expanded access to lucrative Asian oil markets.
Moreover, with TMX and the existing pipeline now operational for crude oil transportation, CVE gained access to expanded loading capabilities from all three berths. Trans Mountain, in a press release, highlighted that 70% of the expanded pipeline is already full by volume, highlighting the swift uptake and strong demand for increased transportation capacity.
With that in mind, CVE's strong financial performance, enhanced dividend yield, strategic market position, and commitment to shareholder value should make it an attractive option for investors looking to power up their portfolios in June.
How Does Cenovus Energy Inc. (CVE) Stack Up Against Its Peers?
While CVE has an overall grade of A, equating to a Strong Buy rating, you may also check out these other stocks within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy - Oil &amp; Gas</a> industry: Secure Energy Services Inc. (<a href="https://stocknews.com/stock/SECYF/">SECYF</a>), PrimeEnergy Resources Corporation (<a href="https://stocknews.com/stock/PNRG/">PNRG</a>), Shell plc (<a href="https://stocknews.com/stock/SHEL/">SHEL</a>), and Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>), carrying A (Strong Buy) or B (Buy) ratings. To explore more Energy - Oil &amp; Gas stocks, <a href="https://stocknews.com/category/energy-oil-gas/">click here</a>.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
<a href="https://report.stocknews.com/free-report/3stocks/?formplacement=artbotad_3s">3 Stocks to DOUBLE This Year &gt;</a>

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CVE shares were trading at $19.27 per share on Monday afternoon, up $0.36 (+1.90%). Year-to-date, CVE has gained 16.95%, versus a 12.87% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/cve-secyf-pnrg-shel-et-is-cenovus-energy-cve-the-key-to-powering-up-your/>Is Cenovus Energy (CVE) the Key to Powering up Your Investment Portfolio in June?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Cenovus Energy (CVE) the Key to Powering up Your Investment Portfolio in June?

Matador Resources (MTDR) reported better-than-expected first-quarter operational and financial results. While an attractive asset portfolio and strategic investments contribute to its rosy long-term prospects, MTDR faces challenges, including the volatility of commodity prices and debt management. Is it wise to add this energy stock to your watchlist? Continue reading… Valued at a $7.55 billion market cap, Matador Resources Company (<a href="https://stocknews.com/stock/MTDR/">MTDR</a>) is an independent energy company that engages in the exploration, development, and acquisition of oil and national gas resources. Its shares got a significant boost from solid first-quarter results with higher-than-expected production while lower operating expenses.
During the quarter, Matador's total oil and natural gas production averaged around 149,760 barrels of oil and natural gas equivalent (BOE) per day, 3% better than its announced guidance of 145,750 BOE per day. Its average oil production of 84,777 barrels per day was 2% better than its guidance average of 83,500 barrels per day.
Meanwhile, MTDR's drilling, completing, and equipping capital expenditures for the first quarter were nearly $35 million less than expected. The cost savings were due to continued operational and cost improvements by the drilling, production, and midstream teams.
Moreover, the company announced during the first quarter that the natural gas pipeline connections between Pronto and San Mateo and between Pronto and our Advance acreage were completed on time and within budget. After the completion, Pronto and San Mateo have a combined 595 miles of a three-stream pipeline system, including the midstream assets from the Advance acquisition.
Joseph Wm. Foran, Matador's CEO, commented, "Matador is pleased to report another quarter that exceeded our original expectations due to the excellent operational and financial execution by the Matador team. This outcome reflects a total team effort and a long-term approach to managing Matador's business that has resulted in Matador outperforming the S&amp;P 500, our peer group and the price of crude oil over the last three years."
"Going forward, we remain focused—as a team—on profitable growth at a measured pace, which has resulted in over 30% oil production growth annually since we became a public company in 2012," Foran added.
For the full year 2024, Matador expects to achieve the high end of its previously announced average production guidance for oil of 91,000 to 95,000 barrels per day, natural gas of 370 to 386 million cubic feet per day, and total average 2024 production of 153,000 to 159,000 BOE per day.
Shares of MTDR have gained 4.4% over the past six months and 6.4% over the past year to date to close the last trading session at $60.51. However, the stock has plunged 2.5% over the past month.
Let's look at factors that could influence MTDR's performance in the upcoming months.
Recent Strategic Acquisition
On June 12, MTDR announced that its wholly-owned subsidiary entered an agreement to <a href="https://www.matadorresources.com/news-releases/news-release-details/matador-resources-company-announces-strategic-bolt-delaware-0">acquire a subsidiary of Ameredev II Parent, LLC</a>, including certain oil and natural gas-producing properties and undeveloped acreage in Lea County, New Mexico and Loving and Winkler Counties, Texas. The acquisition also includes around 19% stake in Piñon Midstream, LLC.
After the acquisition's closing, Matador expects to have 190,000 net acres in the Delaware Basin, production of over 180,000 barrels of BOE per day, proved oil and natural gas reserves of 580 million BOE, and an enterprise value above $10 billion. This strategic move will be accretive to key financial and valuation metrics.
Mixed Financials
For the first quarter that ended March 31, 2024, MTDR's total revenue increased 40.6% year-over-year to $787.69 million. That beat the analysts' revenue estimate of $734.24 million. Its adjusted EBITDA rose 38.4% from the year-ago value to $505.40 million. Its adjusted net income grew 14.6% from the previous year's quarter to $206.20 million,
Furthermore, the company's adjusted EPS was $1.71, compared to the consensus estimate of $1.52, and up 14% year-over-year. However, its adjusted <a href="https://www.investopedia.com/terms/f/freecashflow.asp">free cash flow</a> was $28.60 million, down 50% from the prior year's period. Also, as of March 31, 2024, MTDR's current liabilities increased to $851.34 million, compared to $685.28 million as of December 31, 2023.
Impressive Historical Growth
Over the past three years, MTDR's revenue has grown at a CAGR of 46.4%. The company's total assets have increased at a CAGR of 30.1% over the same period, and its EBITDA has improved at a 71.9% CAGR. Furthermore, the company's operation income (EBIT) has grown at a CAGR of 173.6% over the same timeframe.
Favorable Analyst Expectations
Analysts expect MTDR's revenue and EPS for the second quarter (ended June 2024) to grow 30.2% and 26.2% year-over-year to $830.54 million and $1.79, respectively. Moreover, the company surpassed consensus EPS estimates in each of the trailing four quarters, which is impressive.
For the fiscal year ending December 2024, Street expects MTDR's revenue and EPS to grow 25.3% and 15.2% from the prior year to $3.52 billion and $7.80, respectively. In addition, the company's revenue and EPS for the fiscal year 2025 are expected to increase 20.9% and 20.2% year-over-year to $4.25 billion and $9.38, respectively.
High Profitability
MTDR's trailing-12-month gross profit margin of 80.19% is 79.1% higher than the 44.78% industry average. Also, the stock's trailing-12-month levered EBITDA margin of 73.77% is 116.7% higher than the industry average of 34.04%. However, its trailing-12-month net income margin of 31.03% is 171.6% higher than the industry average of 11.43%.
Additionally, the stock's trailing-12-month ROCE, ROTC, and ROTA of 22.86%, 14.18%, and 10.66% are 66%, 87.8%, and 90.2% higher than the industry averages of 13.77%, 7.55%, and 5.60%, respectively.
Mixed Valuation
In terms of forward non-GAAP P/E, MTDR is trading at 7.76x, 30.9% lower than the industry average of 11.23x. The stock's forward EV/EBITDA multiple of 4.11 is 29.7% lower than the industry average of 5.85. Likewise, its forward Price/Cash Flow of 3.46x is 35.6% lower than the industry average of 5.37x.
However, the stock's forward Price/Sales multiple of 2.15 is 47.7% higher than the industry average of 1.45. Also, its forward EV/Sales of 2.77x is 32.4% higher than the industry average of 2.09x.
POWR Ratings Reflect Uncertainty
MTDR's mixed fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of C, which translates to Neutral in our proprietary rating system. The POWR Ratings are calculated by taking into account 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories. MTDR has a B grade for Quality, in sync with its higher-than-industry profitability. However, the stock has a C for Value, consistent with its mixed valuation.
Also, MTDR has a D grade for Stability, justified by its 60-month beta of 3.30.
Within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy- Oil &amp; Gas</a> industry, MTDR is ranked #35 out of 79 stocks.
Beyond what I have stated above, we have also given MTDR grades for Sentiment, Growth, and Momentum. Get all MTDR ratings <a href="https://stocknews.com/stock/MTDR/">here</a>.
Bottom Line
MTDR reported solid first-quarter results that exceeded expectations due to outstanding operational and financial execution. While its attractive asset portfolio, strategic investments, and efficient operations position it for long-term success, MTDR faces challenges in effectively managing its debt and is exposed to volatility in commodity prices, particularly oil and natural gas.
Given its debt burden, mixed valuation, and uncertain near-term outlook, waiting for a better entry point in this stock seems prudent.
How Does Matador Resources Company (MTDR) Stack Up Against Its Peers?
Given its near-term uncertain prospects, the odds of MTDR outperforming in the weeks and months ahead are compromised. However, there are many industry peers with much more impressive POWR Ratings. So, consider these three A (Strong Buy) or B-rated (Buy) stocks from the <a href="https://stocknews.com/category/energy-oil-gas/">Energy- Oil &amp; Gas</a> industry:
Secure Energy Services Inc. (<a href="https://stocknews.com/stock/SECYF/">SECYF</a>)
PrimeEnergy Resources Corporation (<a href="https://stocknews.com/stock/PNRG/">PNRG</a>)
Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>)
What To Do Next?
43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.
<a href="https://report.stocknews.com/sign-up/stock-market-outlook-2024/?formplacement=artbotad_smo24_rep">2024 Stock Market Outlook &gt;</a>

<hr />
MTDR shares were unchanged in premarket trading Friday. Year-to-date, MTDR has gained 7.11%, versus a 16.76% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/mtdr-cve-pnrg-secyf-is-matador-resources-an-energy-stock-worth-watching/>Is Matador Resources an Energy Stock Worth Watching?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Is Matador Resources an Energy Stock Worth Watching?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
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PNRG Stock Earnings: PrimeEnergy Resources Reported Results for Q2 2024

PrimeEnergy Resources GAAP EPS of $7.77, revenue of $64.83M

Crude oil little changed after volatile week with China demand fears lingering

The oil and gas industry is set for long-term growth, driven by strong oil demand, geopolitical tensions, OPEC+ production strategies, and technological advancements in exploration and production. Hence, investors seeking both value and growth could consider fundamentally strong oil and gas stocks: Obsidian Energy (OBE), Energy Transfer (ET), and PrimeEnergy Resources (PNRG). Keep reading… The oil and gas industry is poised for promising growth, fueled by ongoing conflicts in the Middle East and Ukraine, alongside the OPEC+ alliance's strategic control over production levels. This growth is further bolstered by advancements in exploration, production, and development of oil, natural gas, and energy-related services.
Amid this backdrop, it could be wise to consider buying fundamentally strong oil and gas stocks, such as Obsidian Energy Ltd. (<a href="https://stocknews.com/stock/OBE/">OBE</a>), Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>), and PrimeEnergy Resources Corporation (<a href="https://stocknews.com/stock/PNRG/">PNRG</a>), which offer both value and growth.
Despite lower demand from China, rising inventories, and OPEC+ plans to ease output cuts, oil prices could surge if the Israel-Hamas conflict escalates, leading to supply disruptions. Meanwhile, global natural gas demand surged in early 2024, particularly in Asia, with China and India experiencing <a href="https://www.iea.org/reports/gas-market-report-q3-2024">double-digit growth</a>.
Statista forecasts that by 2045, primary energy consumption will reach approximately <a href="https://www.statista.com/statistics/282801/primary-energy-demand-by-source-world/">359 million barrels</a> of oil equivalent per day. Oil and gas will continue to dominate, contributing 100 and 85 million barrels of oil equivalent per day, respectively. High oil prices, strong demand, and the industry's solid financial position make the oil and gas industry an attractive investment.
Considering these conducive trends, let's discuss the fundamentals of the three featured <a href="https://stocknews.com/category/energy-oil-gas/">Energy - Oil &amp; Gas</a> stocks, starting with number three.
Stock #3: Obsidian Energy Ltd. (<a href="https://stocknews.com/stock/OBE/">OBE</a>)
Headquartered in Calgary, Canada, OBE engages in the exploration, production, and development of oil and natural gas properties in Western Canada.
On June 26, 2024, OBE announced the completion of its $80.5 million acquisition of Clearwater production and land in Peace River, enhancing its regional holdings. The acquisition includes approximately 1,700 boe/d of production and 148 net sections of land, funded by a bank facility and a term loan.
On June 11, 2024, OBE announced a new agreement with the Woodland Cree First Nation and resumed production at its Harmon Valley South field. The agreement, effective through 2025, follows the field's shutdown in May 2024 due to a conflict with the WCFN.
In terms of forward non-GAAP P/E, OBE's 4.76x is 59.7% lower than the 11.83x industry average. Its 1.33x forward <a href="https://www.investopedia.com/terms/e/enterprisevaluesales.asp">EV/Sales</a> is 34.4% lower than the 2.03x industry average. Similarly, its 2.26x forward EV/EBITDA is 62.2% lower than the 5.99x industry average.
OBE's EBITDA grew at a CAGR of 38.2% over the past three years. Its EBIT grew at a CAGR of 47.1% over the past three years. Moreover, its revenue grew at a CAGR of 26.1% over the past three years.
In the second quarter that ended June 30, 2024, OBE's net income stood at CAD37.10 million ($27.49 million) and CAD0.46 per share, up 101.6% and 109.1% over the prior-year quarter. Likewise, the company's free cash flow increased 20.9% year-over-year to CAD52 million ($38.53 million).
For fiscal 2024, OBE's EPS and revenue are expected to increase 52% and 13.3% year-over-year to $1.44 and $605.55 million, respectively. OBE's stock has gained 1.3% year-to-date to close the last trading session at $6.87.
OBE's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this positive outlook. It has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
Within the <a href="https://stocknews.com/category/energy-oil-gas/">Energy - Oil &amp; Gas</a> industry, it is ranked #5 out of 79 stocks. It has a B grade for Value and Sentiment. To see the other ratings of OBE for Growth, Momentum, Stability, and Quality, <a href="https://stocknews.com/stock/OBE/">click here</a>.
Stock #2: Energy Transfer LP (<a href="https://stocknews.com/stock/ET/">ET</a>)
ET provides energy-related services. It owns and operates approximately 11,600 miles of natural gas transportation pipeline, three natural gas storage facilities, and two natural gas storage facilities in Texas and Oklahoma. Additionally, it manages 19,945 miles of interstate natural gas pipeline.
On July 16, 2024, ET and Sunoco announced a joint venture to combine their Permian Basin crude oil and water gathering assets, with ET holding a 67.5% interest and serving as the operator. The venture will manage over 5,000 miles of pipelines and 11 million barrels of storage capacity.
On July 15, 2024, ET announced the completion of its $2.28 billion acquisition of WTG Midstream, expanding its Permian Basin pipeline network with 6,000 miles of gas-gathering pipelines and eight processing plants. This acquisition is expected to boost distributable cash flow per unit starting in 2025.
In terms of forward Price/Sales, ET's 0.62x is 56.3% lower than the 1.42x industry average. Likewise, its 0.78x forward non-GAAP PEG is 47.6% lower than the 1.49x industry average. Also, its 1.61x forward Price/Book is 1.5% lower than the 1.63x industry average.
ET's revenue grew at a CAGR of 17.1% over the past three years. Its EBITDA grew at a CAGR of 3.3% over the past three years. Moreover, its net income grew at a CAGR of 5.8% over the past three years.
ET's revenues for the second quarter that ended June 30, 2024, rose 13.2% year-over-year to $20.73 billion. Its operating income grew 25% from the year-ago value to $2.30 billion.  For the same quarter, ET's net income came in at $1.99 billion, up 61.8% from the prior year's quarter. In addition, the company's net income per common unit increased 40% year-over-year to $0.35.
Street expects ET's EPS for the quarter ending September 30, 2024, to increase 120.3% year-over-year to $0.33, and its revenue for the same quarter is expected to increase 13.2% year-over-year to $23.47 billion. Over the past year, the stock has gained 18.8% to close the last trading session at $16.10.
ET's POWR Ratings reflect its solid fundamentals. It has an overall rating of B, equating to a Buy in our proprietary rating system.
It is ranked #4 in the same industry. It has an A grade for Growth and a B for Value, Momentum, and Stability. <a href="https://stocknews.com/stock/ET/">Click here</a> to see the other ratings of ET for Sentiment and Quality.
Stock #1: PrimeEnergy Resources Corporation (<a href="https://stocknews.com/stock/PNRG/">PNRG</a>)
PNRG and its subsidiaries engage in the acquisition, development, and production of oil and natural gas properties. The company owns leasehold, mineral, and royalty interests in producing and non-producing oil and gas properties, operates approximately 534 active wells, and holds non-operating interests and royalties in 952 additional wells.
In terms of trailing-12-month EV/Sales, PNRG's 1.30x is 39.9% lower than the 2.16x industry average. Its 2.29x trailing-12-month EV/EBITDA is 64.4% lower than the 6.44x industry average. Likewise, its 4.16x forward EV/EBIT is 62.2% lower than the 10.99x industry average.
PNRG's revenue grew at a CAGR of 45.7% over the past three years. Its total assets grew at a CAGR of 19% over the past three years. Moreover, its EBITDA grew at a CAGR of 89% over the past three years.
During the second quarter that ended June 30, 2024, PNRG's revenues increased 81.5% year-over-year to $64.83 million. The company's net income and EPS came in at $19.73 million and $7.77, indicating growth of 95.6% and 103.4% from the year-ago values, respectively.
Over the past year, the stock has gained 37.1% to close the last trading session at $133.02.
PNRG's POWR Ratings reflect its bright prospects. It has an overall rating of B, translating to a Buy in our proprietary rating system.
It has a B grade for Growth, Sentiment, and Quality. Within the Energy - Oil &amp; Gas industry, it is ranked #2 out of 79 stocks. To access PNRG's additional grades for Value, Momentum, and Stability, <a href="https://stocknews.com/stock/PNRG/">click here</a>.
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<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/et-obe-pnrg-3-oil-gas-stocks-offering-both-value-and-growth/>3 Oil & Gas Stocks Offering Both Value and Growth</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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