Value Investor
Start free

Primeenergy Resources

PNRG on Nasdaq. PrimeEnergy Resources sells oil and natural gas to refiners, utilities, and other companies. Market value $332m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

The company doesn't report operating profit, so we work it out from pre-tax profit and interest.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
14.7%very high

For every $100 of what the whole company costs, it produced $14.66 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
10.3×fair

You pay 10.3 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
18.3%five-year median

Each dollar kept in the business earns 18 cents a year. Above 10 is good.

Quality score: 92 of 100. Price score: 100 of 100. Our list needs 70 on quality and 60 on price.

$210.25 a share, 66% above its 1-year low

Over the past year the price has ranged from $126.40 to $278.90.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.0
0.0
-0.0
-0.0
0.0
0.0
2021202220232024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: $49 million in the past 12 months, $21 million in the year to December 2025.

Revenue
$72m$157m$133m$238m$189m
Operating margin
6.8%38.0%26.2%30.6%17.3%
Debt to equity
0.360.080.000.020.00
Shares outstanding
0.00bn0.00bn0.00bn0.00bn0.00bn

Health checks

  • Free cash flow positive3 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)8 of 9
  • Profit backed by cash (accruals)No
  • Debt0.00× equity
  • Revenue growth, five yearsStrong, 26.5% a year
  • Buying back its own sharesYes, 18% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $42 million last quarter, about the same as a year ago.
  • Profit: $7 million, up 102% on a year ago.
  • 2% fewer shares than a year ago. Each share owns a bit more of the company.
  • It has $29 million more cash than debt. A year ago debt was $10 million more than cash.
  • Sales grew on a year ago in 1 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$69m
December 2024$61m
March 2025$50m
June 2025$42m
September 2025$46m
December 2025$51m
March 2026$39m
June 2026$42m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$22m
December 2024$2m
March 2025$9m
June 2025$3m
September 2025$11m
December 2025$3m
March 2026$4m
June 2026$7m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
16 April 2026
Next quarterly (estimated, 10-Q)
13 November 2026

Who owns it

None of the long-term investors we follow own it. 94 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

  • DRIMAL CHARLES E JR
    Passive investor
    56.7%−1.6 pts
    Since 11 February 2026
    What they said

    No Shares were bought or sold by Mr. Drimal. This Amendment No. 11 is being filed to report (i) a decrease in the beneficial ownership of shares of the Common Stock by Mr. Drimal pursuant to the termination of certain voting agreements and (ii) the execution of additional voting…

    Read the filing
  • de Rothschild Robert
    Passive investor
    at least 12.4%−2.4 pts
    (filed with 1 related holder)
    Since 13 January 2026
    What they said

    Since the date of the most recent Schedule 13D amendment filed by Amrace and the Reporting Person, Amrace has sold the following PNRG shares in the ordinary course of business: February 3, 2025 Sale of 471 Shares at $212.00 February 5, 2025 Sale of 503 Shares at an average…

    Read the filing
  • 5.2%
    Since 30 June 2026
  • HURT CLINT
    Sold down below 5%
    Since 10 September 2026
    What they said

    This Amendment No. 7 is being filed to report the dispositions described below for personal investment purposes. As a result, Mr. Hurt is no longer the beneficial owner of more than 5% of the outstanding Shares. The filing of this Amendment No. 7 represents the final amendment…

    Read the filing
  • FONG GIFFORD
    Sold down below 5%
    Since 22 April 2026
    What they said

    No Shares were bought or sold by Mr. Fong. As previously reported, Mr. Fong had sole voting power over (i) 38,994 Shares pursuant to a Voting Agreement, dated June 3, 2023, between Mr. Fong and Steven Fong, who was the record holder of such Shares, and (ii) 18,758 Shares…

    Read the filing

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 1 sold $11m.

  • HURT CLINT
    Director
    Sold
    Date
    8 September 2026
    Shares
    6,000
    Price
    $220.44
    Value
    $1m
  • HURT CLINT
    Director
    Sold
    Date
    2 September 2026
    Shares
    1,800
    Price
    $221.52
    Value
    $398,736
  • HURT CLINT
    Director
    Sold
    Date
    25 August 2026
    Shares
    8,007
    Price
    $201.29
    Value
    $2m
  • HURT CLINT
    Director
    Sold
    Date
    24 August 2026
    Shares
    1,993
    Price
    $208.09
    Value
    $414,723
  • HURT CLINT
    Director
    Sold
    Date
    1 May 2026
    Shares
    2,000
    Price
    $220.44
    Value
    $440,880
  • HURT CLINT
    Director
    Sold
    Date
    24 April 2026
    Shares
    10,000
    Price
    $230.92
    Value
    $2m
  • HURT CLINT
    Director
    Sold
    Date
    9 February 2026
    Shares
    1,976
    Price
    $200.22
    Value
    $395,635
  • HURT CLINT
    Director
    Sold
    Date
    6 February 2026
    Shares
    8,936
    Price
    $191.58
    Value
    $2m
  • HURT CLINT
    Director
    Sold
    Date
    5 February 2026
    Shares
    1,064
    Price
    $190.02
    Value
    $202,181
  • HURT CLINT
    Director
    Sold
    Date
    11 December 2025
    Shares
    1,285
    Price
    $190.07
    Value
    $244,240

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 16 Apr 2026, plus the 10-Q filed 14 Aug 2026 and 2 later 8-Ks.

  • Changed auditor

    Worth knowing

    The company changed its auditor (the firm that checks its books) in the last two years.

    “June 27, 2025, the Audit Committee (the “Committee”) of the Board of Directors of PrimeEnergy Resources Corporation (the “Company”), approved the dismissal of Grassi & Co., CPAs, P.C. (“Grassi”) as the Company’s independent registered public accounting firm.”

    From an 8-K filed 1 July 2025: Change of auditor. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.