Prairie Operating Co. (NASDAQ:PROP) Receives $8.75 Average Price Target from Analysts

Prairie Operating Co. (NASDAQ:PROP) has received an average rating of “Buy” from the four analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.75.

A number of analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Prairie Operating in a report on Monday, June 2nd. They issued a “buy” rating and a $8.00 price objective on the stock. Piper Sandler lowered their price objective on shares of Prairie Operating from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, May 13th. Roth Capital assumed coverage on shares of Prairie Operating in a report on Thursday, June 12th. They issued a “buy” rating and a $8.00 price objective on the stock. Johnson Rice assumed coverage on shares of Prairie Operating in a report on Monday, May 12th. They issued an “accumulate” rating and a $9.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a report on Friday, June 6th.

Insider Buying and Selling

In other news, CEO Edward Kovalik bought 7,140 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $3.51 per share, for a total transaction of $25,061.40. Following the completion of the acquisition, the chief executive officer now owns 1,332,355 shares in the company, valued at approximately $4,676,566.05. This represents a 0.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Gary C. Hanna bought 25,000 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were purchased at an average price of $3.83 per share, for a total transaction of $95,750.00. Following the completion of the acquisition, the president now owns 1,350,226 shares of the company’s stock, valued at $5,171,365.58. The trade was a 1.89% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 52,340 shares of company stock worth $197,617. Insiders own 15.44% of the company’s stock.

Hedge Funds Weigh In On Prairie Operating

A number of institutional investors have recently added to or reduced their stakes in PROP. Wells Fargo & Company MN increased its holdings in shares of Prairie Operating by 128.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,376 shares of the company’s stock valued at $30,000 after purchasing an additional 2,457 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Prairie Operating by 30.6% in the first quarter. Bank of New York Mellon Corp now owns 14,741 shares of the company’s stock valued at $79,000 after purchasing an additional 3,453 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Prairie Operating in the first quarter valued at $42,000. JPMorgan Chase & Co. increased its holdings in shares of Prairie Operating by 121.8% in the fourth quarter. JPMorgan Chase & Co. now owns 15,451 shares of the company’s stock valued at $107,000 after purchasing an additional 8,485 shares during the last quarter. Finally, Navigation Wealth Management Inc. increased its holdings in shares of Prairie Operating by 83.3% in the first quarter. Navigation Wealth Management Inc. now owns 22,007 shares of the company’s stock valued at $118,000 after purchasing an additional 10,000 shares during the last quarter. 34.28% of the stock is currently owned by institutional investors and hedge funds.

Prairie Operating Stock Performance

Shares of PROP stock opened at $3.96 on Thursday. The company has a market capitalization of $173.57 million, a P/E ratio of -1.32 and a beta of 2.03. The company’s 50 day moving average price is $4.05 and its two-hundred day moving average price is $6.07. Prairie Operating has a 52 week low of $3.35 and a 52 week high of $12.30.

Prairie Operating Company Profile

Prairie Operating Co, an independent energy company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company holds assets in the Denver-Julesburg Basin in Colorado; and the Niobrara and Codell formations. Prairie Operating Co is based in Houston Texas.