GWN Securities Inc. Raises Stock Holdings in Prairie Operating Co. $PROP

GWN Securities Inc. lifted its holdings in Prairie Operating Co. (NASDAQ:PROP) by 143.5% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 27,438 shares of the company’s stock after purchasing an additional 16,172 shares during the period. GWN Securities Inc.’s holdings in Prairie Operating were worth $83,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hodges Capital Management Inc. bought a new position in Prairie Operating in the first quarter worth approximately $2,943,000. Bank of New York Mellon Corp grew its stake in 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 worth $79,000 after purchasing an additional 3,453 shares in the last quarter. Quotient Wealth Partners LLC bought a new position in Prairie Operating in the first quarter worth approximately $73,000. Brave Asset Management Inc. bought a new position in Prairie Operating in the second quarter worth approximately $60,000. Finally, Wellington Management Group LLP bought a new position in Prairie Operating in the first quarter worth approximately $97,000. 34.28% of the stock is currently owned by hedge funds and other institutional investors.

Prairie Operating Stock Up 1.0%

Shares of NASDAQ PROP opened at $1.99 on Friday. The company has a current ratio of 0.60, a quick ratio of 0.58 and a debt-to-equity ratio of 4.13. The stock has a market capitalization of $100.06 million, a PE ratio of -0.52 and a beta of 2.12. The stock’s fifty day simple moving average is $2.06 and its two-hundred day simple moving average is $3.14. Prairie Operating Co. has a 12-month low of $1.64 and a 12-month high of $10.58.

Prairie Operating (NASDAQ:PROP) last announced its earnings results on Tuesday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($1.10). The business had revenue of $68.10 million during the quarter, compared to analyst estimates of $125.50 million. As a group, analysts expect that Prairie Operating Co. will post -2.13 EPS for the current fiscal year.

Analyst Ratings Changes

PROP has been the topic of several research analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Prairie Operating in a research note on Tuesday, October 14th. Wall Street Zen raised Prairie Operating from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Piper Sandler dropped 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, KeyCorp initiated coverage on Prairie Operating in a research note on Thursday, July 3rd. They issued a “sector weight” rating on the stock. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Prairie Operating has a consensus rating of “Hold” and an average target price of $6.75.

Insider Transactions at Prairie Operating

In related news, Director Jonathan H. Gray bought 89,000 shares of the company’s stock in a transaction on Friday, September 5th. The shares were acquired at an average price of $2.11 per share, with a total value of $187,790.00. Following the transaction, the director owned 675,817 shares of the company’s stock, valued at $1,425,973.87. The trade was a 15.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders acquired 442,480 shares of company stock worth $937,103. 15.44% of the stock is currently owned by company insiders.

Prairie Operating 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.