Wells Fargo & Company MN Boosts Stake in Prairie Operating Co. (NASDAQ:PROP)

Wells Fargo & Company MN increased its position in Prairie Operating Co. (NASDAQ:PROP) by 128.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,376 shares of the company’s stock after purchasing an additional 2,457 shares during the period. Wells Fargo & Company MN’s holdings in Prairie Operating were worth $30,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in Prairie Operating by 105.5% during the 4th quarter. Geode Capital Management LLC now owns 250,614 shares of the company’s stock valued at $1,734,000 after acquiring an additional 128,648 shares during the last quarter. Rhumbline Advisers raised its stake in Prairie Operating by 1,053.9% during the 4th quarter. Rhumbline Advisers now owns 40,224 shares of the company’s stock valued at $278,000 after acquiring an additional 36,738 shares during the last quarter. Traynor Capital Management Inc. purchased a new stake in Prairie Operating during the 4th quarter valued at approximately $146,000. JPMorgan Chase & Co. raised its stake in Prairie Operating by 121.8% during the 4th quarter. JPMorgan Chase & Co. now owns 15,451 shares of the company’s stock valued at $107,000 after acquiring an additional 8,485 shares during the last quarter. Finally, Barclays PLC raised its stake in Prairie Operating by 321.7% during the 3rd quarter. Barclays PLC now owns 5,996 shares of the company’s stock valued at $52,000 after acquiring an additional 4,574 shares during the last quarter. 34.28% of the stock is owned by hedge funds and other institutional investors.

Prairie Operating Stock Down 3.9%

Shares of Prairie Operating stock opened at $4.22 on Thursday. Prairie Operating Co. has a fifty-two week low of $3.35 and a fifty-two week high of $13.59. The firm has a market cap of $113.34 million, a PE ratio of -1.41 and a beta of 3.13. The business’s fifty day moving average is $4.74 and its two-hundred day moving average is $6.84.

Analysts Set New Price Targets

Several equities analysts have issued reports on PROP shares. Johnson Rice started coverage on Prairie Operating in a research report on Monday. They set an “accumulate” rating and a $9.00 target price on the stock. Piper Sandler dropped their target price on Prairie Operating from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday.

About Prairie Operating

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.