Item 5. Market for Registrant’s Common Equity
Item 5.
MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Our common stock is listed and principally traded on the NASDAQ Stock Market under the ticker symbol “PNRG”. The following table presents the high and low prices per share of our common stock during certain periods, as reported in the consolidated transaction reporting system.
High
Low
2022
First Quarter
$
89.51
$
66.61
Second Quarter
105.00
69.48
Third Quarter
100.00
75.23
Fourth Quarter
89.00
69.84
2021
First Quarter
$
98.00
$
34.33
Second Quarter
53.72
39.89
Third Quarter
73.80
45.20
Fourth Quarter
71.71
58.50
The above quotations reflect inter-dealer prices, without retail mark-up, mark-down or commissions, and may not represent actual transactions.
As of April 10, 2023 there were 207 registered holders of the common stock.
Provisions of our line of credit agreement restrict our ability to pay dividends. Such dividends may be declared out of funds legally available therefore, when and as declared by our Board of Directors.
` Issuer Purchases of Equity Securities
There were no sales of equity securities by the Company during the period covered by this report. There was no purchase of equity securities by the Company during the period covered by this report.
2022 Month
Number of
Shares
Average Price
Paid per share
Maximum
Number of Shares
that May Yet Be
Purchased Under
The Program at
Month—End (1)
January
2,981
$
76.21
144,740
February
5,948
$
73.26
138,792
March
2,259
$
75.36
136,533
April
3,426
$
74.82
133,107
May
5,963
$
82.37
127,144
June
18,855
$
85.18
108,289
July
15,645
$
79.68
92,644
August
5,500
$
87.99
87,144
September
800
$
92.80
86,344
October
537
$
74.07
85,807
November
15,263
$
80.14
70,544
December
13,900
$
82.56
56,644
Total/Average
91,077
$
81.27
34
Table of Contents
(1)
In December 1993, we announced that the Board of Directors authorized a stock repurchase program whereby we may purchase outstanding shares of the common stock from time-to-time, in open market transactions or negotiated sales. On October 31, 2012 and June 13, 2018, the Board of Directors of the Company approved an additional 500,000 and 200,000 shares respectively, of the Company’s stock to be included in the stock repurchase program. A total of 3,700,000 shares have been authorized, to date, under this program. Through December 31, 2022, a total of 3,645,456 shares have been repurchased under this program for $82,481,928 at an average price of $ 22.63 per share. Additional purchases of shares may occur as market conditions warrant. We expect future purchases will be funded with internally generated cash flow or from working capital.
Item 6.
SELECTED FINANCIAL DATA
We are a smaller reporting company and therefore no response is required pursuant to this Item.