Brokerages Set Prairie Operating Co. (NASDAQ:PROP) PT at $6.10

Shares of Prairie Operating Co. (NASDAQ:PROP) have earned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.10.

Several brokerages have recently weighed in on PROP. Zacks Research cut Prairie Operating from a “hold” rating to a “strong sell” rating in a report on Thursday, March 5th. William Blair set a $3.50 price objective on Prairie Operating in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prairie Operating in a research note on Monday, December 29th.

Prairie Operating Stock Performance

NASDAQ:PROP opened at $1.54 on Friday. The company has a market cap of $91.86 million, a P/E ratio of -0.48 and a beta of 2.44. Prairie Operating has a twelve month low of $1.50 and a twelve month high of $6.40. The company’s 50-day moving average price is $1.81 and its 200-day moving average price is $1.85. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 4.11.

Insider Buying and Selling

In other news, major shareholder Nominees Pty Ltd Atf Narrogal bought 210,981 shares of the firm’s stock in a transaction on Monday, December 29th. The shares were bought at an average cost of $1.61 per share, for a total transaction of $339,679.41. Following the acquisition, the insider directly owned 15,481,603 shares of the company’s stock, valued at $24,925,380.83. This trade represents a 1.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have bought 294,806 shares of company stock worth $480,505 over the last quarter. 15.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new stake in Prairie Operating in the fourth quarter valued at $25,000. ELCO Management Co. LLC purchased a new stake in Prairie Operating in the 3rd quarter valued at about $26,000. Retirement Planning Group LLC acquired a new position in Prairie Operating in the fourth quarter valued at about $29,000. Bank of America Corp DE boosted its stake in Prairie Operating by 203.8% during the second quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock worth $29,000 after buying an additional 6,582 shares during the period. Finally, Warther Private Wealth LLC acquired a new stake in shares of Prairie Operating during the third quarter valued at about $31,000. 34.28% of the stock is currently owned by hedge funds and other institutional investors.

About Prairie Operating

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.