Prairie Operating (NASDAQ:PROP) Issues Quarterly Earnings Results, Misses Expectations By $0.44 EPS

Prairie Operating (NASDAQ:PROP) issued its quarterly earnings results on Thursday. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.44), FiscalAI reports. The firm had revenue of $129.50 million during the quarter. Prairie Operating had a positive return on equity of 46.53% and a negative net margin of 13.02%.

Prairie Operating Stock Up 1.4%

PROP stock traded up $0.01 on Thursday, reaching $0.37. 1,313,368 shares of the company traded hands, compared to its average volume of 1,138,332. The firm has a fifty day simple moving average of $0.40 and a 200-day simple moving average of $0.99. The company has a market cap of $41.86 million, a P/E ratio of 0.92 and a beta of 1.15. Prairie Operating has a one year low of $0.32 and a one year high of $2.55. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.25 and a quick ratio of 0.23.

Institutional Investors Weigh In On Prairie Operating

Several hedge funds have recently added to or reduced their stakes in PROP. SL Advisors LLC purchased a new stake in shares of Prairie Operating in the third quarter worth $993,000. BlackRock Inc. purchased a new position in Prairie Operating in the second quarter worth about $635,000. Corient Private Wealth LP bought a new stake in shares of Prairie Operating during the second quarter valued at approximately $313,000. Fore Capital LLC purchased a new position in shares of Prairie Operating in the second quarter worth $227,000. Finally, GSA Capital Partners LLP purchased a new position in shares of Prairie Operating in the second quarter worth $191,000. 34.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PROP has been the subject of several recent research reports. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Zacks Research downgraded shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 15th. Roth Capital reiterated a “buy” rating and issued a $2.00 price target on shares of Prairie Operating in a research note on Monday, August 17th. Finally, Weiss Ratings upgraded shares of Prairie Operating from a “sell (e)” rating to a “sell (e+)” rating in a research note on Thursday, September 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Prairie Operating has a consensus rating of “Reduce” and a consensus target price of $2.75.

About Prairie Operating

Prairie Operating Co. is a Houston-based publicly traded independent energy company engaged in the development and acquisition of oil, natural gas, and natural gas liquid resources in the United States. The Company’s assets and operations are concentrated in the oil and liquids-rich regions of the Denver-Julesburg (DJ) Basin, with a primary focus on the Niobrara and Codell formations. The Company is committed to the responsible development of its oil natural gas, and natural gas liquid resources and is focused on maximizing returns through consistent growth, capital discipline, and sustainable cash flow generation.