Prairie Operating (NASDAQ:PROP) Coverage Initiated by Analysts at Citigroup

Citigroup started coverage on shares of Prairie Operating (NASDAQ:PROP) in a research note released on Monday morning, Marketbeat.com reports. The firm issued a buy rating and a $8.00 target price on the stock.

PROP has been the topic of several other research reports. Johnson Rice started coverage on shares of Prairie Operating in a report on Monday, May 12th. They set an “accumulate” rating and a $9.00 price target on the stock. Piper Sandler lowered their target price 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. Finally, Wall Street Zen downgraded shares of Prairie Operating from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. One research analyst has rated the stock with a sell rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Prairie Operating Trading Down 2.3%

Shares of NASDAQ PROP opened at $3.78 on Monday. The firm has a 50 day moving average of $4.20 and a 200 day moving average of $6.38. The firm has a market capitalization of $165.68 million, a price-to-earnings ratio of -1.26 and a beta of 3.13. Prairie Operating has a 12-month low of $3.35 and a 12-month high of $13.59.

Insider Buying and Selling at Prairie Operating

In related news, President Gary C. Hanna purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average cost 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 in the company, valued at approximately $5,171,365.58. This trade represents a 1.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Edward Kovalik purchased 6,700 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $3.74 per share, for a total transaction of $25,058.00. Following the completion of the acquisition, the chief executive officer now owns 1,339,055 shares of the company’s stock, valued at approximately $5,008,065.70. The trade was a 0.50% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 43,840 shares of company stock worth $163,847 over the last quarter. Insiders own 15.44% of the company’s stock.

Institutional Trading of Prairie Operating

A number of hedge funds have recently added to or reduced their stakes in PROP. Rhumbline Advisers lifted its position in shares of Prairie Operating by 1,053.9% during the fourth quarter. Rhumbline Advisers now owns 40,224 shares of the company’s stock valued at $278,000 after buying an additional 36,738 shares during the last quarter. Geode Capital Management LLC raised its position in Prairie Operating by 105.5% during the 4th quarter. Geode Capital Management LLC now owns 250,614 shares of the company’s stock worth $1,734,000 after buying an additional 128,648 shares during the last quarter. JPMorgan Chase & Co. raised its position in Prairie Operating by 163.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company’s stock worth $61,000 after buying an additional 4,321 shares during the last quarter. Wells Fargo & Company MN raised its position in Prairie Operating by 128.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,376 shares of the company’s stock worth $30,000 after buying an additional 2,457 shares during the last quarter. Finally, Northern Trust Corp raised its position in Prairie Operating by 92.6% during the 4th quarter. Northern Trust Corp now owns 62,884 shares of the company’s stock worth $435,000 after buying an additional 30,242 shares during the last quarter. 34.28% of the stock is owned by hedge funds and other institutional investors.

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.