Analysts Set Prairie Operating Co. (NASDAQ:PROP) PT at $6.75

Prairie Operating Co. (NASDAQ:PROP) has received an average recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $6.75.

A number of brokerages recently commented on PROP. Zacks Research upgraded shares of Prairie Operating to a “hold” rating in a research report on Thursday, January 1st. Piper Sandler reduced their price objective on Prairie Operating to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Prairie Operating in a report on Monday, December 29th.

Insiders Place Their Bets

In related news, major shareholder Nominees Pty Ltd Atf Narrogal acquired 210,981 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was purchased at an average price of $1.61 per share, with a total value of $339,679.41. Following the completion of the purchase, the insider owned 15,481,603 shares in the company, valued at $24,925,380.83. This trade represents a 1.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 3,441,989 shares of company stock valued at $5,853,115 in the last ninety days. Insiders own 15.44% of the company’s stock.

Institutional Investors Weigh In On Prairie Operating

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ELCO Management Co. LLC bought a new stake in Prairie Operating in the 3rd quarter worth $26,000. Bank of America Corp DE increased its holdings in Prairie Operating by 203.8% during the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock valued at $29,000 after purchasing an additional 6,582 shares during the period. Warther Private Wealth LLC bought a new position in Prairie Operating during the 3rd quarter valued at approximately $31,000. JPMorgan Chase & Co. raised its position in Prairie Operating by 411.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock valued at $32,000 after purchasing an additional 8,640 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Prairie Operating in the 2nd quarter worth approximately $32,000. 34.28% of the stock is currently owned by institutional investors.

Prairie Operating Stock Up 3.8%

Shares of NASDAQ PROP opened at $1.89 on Friday. The stock has a market capitalization of $112.73 million, a P/E ratio of -0.58 and a beta of 2.27. Prairie Operating has a one year low of $1.57 and a one year high of $10.58. The firm’s 50 day simple moving average is $1.78 and its two-hundred day simple moving average is $2.19. The company has a debt-to-equity ratio of 4.11, a current ratio of 0.83 and a quick ratio of 0.80.

Prairie Operating Company Profile

Prairie Operating (NASDAQ: PROP) is a publicly traded independent exploration and production company focused on the acquisition, development and operation of onshore oil and natural gas properties in the United States. The firm seeks to identify and capitalize on undervalued or overlooked assets, applying a disciplined approach to drilling, completion and production optimization. By concentrating on core resource plays, Prairie Operating aims to deliver steady production growth and free cash flow.

The company’s asset base is concentrated in the Permian Basin region of West Texas and southeastern New Mexico, where it holds working interests in both conventional and unconventional reservoirs.