Prairie Operating Co. (NASDAQ:PROP) Receives $6.75 Consensus Target Price from Analysts

Prairie Operating Co. (NASDAQ:PROP) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $6.75.

PROP has been the subject of several research reports. Piper Sandler cut their price objective on Prairie Operating to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prairie Operating in a research note on Monday.

Prairie Operating Stock Down 1.7%

PROP stock opened at $1.69 on Monday. Prairie Operating has a 52 week low of $1.57 and a 52 week high of $10.58. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 4.11. The firm has a 50-day simple moving average of $1.79 and a 200-day simple moving average of $2.43. The stock has a market capitalization of $100.81 million, a P/E ratio of -0.52 and a beta of 2.16.

Insider Transactions at Prairie Operating

In other Prairie Operating news, major shareholder Nominees Pty Ltd Atf Narrogal bought 50,000 shares of the company’s stock in a transaction dated Wednesday, December 24th. The stock was acquired at an average price of $1.68 per share, with a total value of $84,000.00. Following the completion of the acquisition, the insider directly owned 15,270,622 shares of the company’s stock, valued at $25,654,644.96. This represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have acquired 3,231,008 shares of company stock worth $5,513,436. Insiders own 15.44% of the company’s stock.

Institutional Trading of Prairie Operating

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Prairie Operating by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock worth $2,533,000 after purchasing an additional 7,042 shares during the last quarter. Woodline Partners LP purchased a new position in Prairie Operating during the first quarter worth approximately $3,678,000. Geode Capital Management LLC boosted its stake in Prairie Operating by 76.2% during the second quarter. Geode Capital Management LLC now owns 661,390 shares of the company’s stock worth $1,981,000 after buying an additional 285,934 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in Prairie Operating in the 1st quarter valued at $2,943,000. Finally, Marshall Wace LLP acquired a new stake in shares of Prairie Operating in the 2nd quarter worth $860,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

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.