Prairie Operating Co. (NASDAQ:PROP) Given Average Recommendation of “Hold” by Brokerages

Shares of Prairie Operating Co. (NASDAQ:PROP) have been given a consensus recommendation of “Hold” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $6.75.

PROP has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a research note on Monday, December 22nd. Piper Sandler lowered their price objective on shares of Prairie Operating to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st.

Insider Transactions at Prairie Operating

In related news, major shareholder Nominees Pty Ltd Atf Narrogal acquired 36,701 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were bought at an average price of $1.68 per share, for a total transaction of $61,657.68. Following the acquisition, the insider owned 15,186,797 shares in the company, valued at $25,513,818.96. This trade represents a 0.24% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have acquired 3,147,183 shares of company stock valued at $5,372,610. Company insiders own 15.44% of the company’s stock.

Institutional Investors Weigh In On Prairie Operating

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Prairie Operating by 203.8% in the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock valued at $29,000 after acquiring an additional 6,582 shares in the last quarter. State of Wyoming bought a new stake in shares of Prairie Operating during the second quarter valued at approximately $32,000. XTX Topco Ltd acquired a new position in shares of Prairie Operating in the second quarter valued at $32,000. JPMorgan Chase & Co. lifted its position in Prairie Operating by 411.4% in the second quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after purchasing an additional 8,640 shares during the period. Finally, SageView Advisory Group LLC acquired a new stake in Prairie Operating during the first quarter worth $59,000. 34.28% of the stock is owned by institutional investors and hedge funds.

Prairie Operating Stock Down 6.5%

PROP stock opened at $1.57 on Monday. The stock has a market capitalization of $93.65 million, a price-to-earnings ratio of -0.48 and a beta of 2.16. The company has a 50-day moving average of $1.80 and a two-hundred day moving average of $2.47. Prairie Operating has a 52-week low of $1.57 and a 52-week high of $10.58. The company has a debt-to-equity ratio of 4.11, a current ratio of 0.83 and a quick ratio of 0.80.

About Prairie Operating

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.