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

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

PROP has been the subject of several analyst reports. Piper Sandler reduced their target price on Prairie Operating to $2.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a report on Monday, December 29th. Finally, Zacks Research raised shares of Prairie Operating to a “hold” rating in a research note on Thursday, January 1st.

Prairie Operating Price Performance

NASDAQ PROP opened at $1.85 on Friday. Prairie Operating has a 1 year low of $1.57 and a 1 year high of $10.58. The business’s fifty day moving average is $1.77 and its two-hundred day moving average is $2.22. The stock has a market capitalization of $110.35 million, a P/E ratio of -0.57 and a beta of 2.27. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.80 and a current ratio of 0.83.

Insider Activity at Prairie Operating

In other news, major shareholder Nominees Pty Ltd Atf Narrogal acquired 210,981 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was purchased at an average price of $1.61 per share, with a total value of $339,679.41. Following the purchase, the insider owned 15,481,603 shares of the company’s stock, valued at approximately $24,925,380.83. This trade represents a 1.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have purchased 3,441,989 shares of company stock valued at $5,853,115. 15.44% of the stock is currently owned by corporate insiders.

Institutional Trading of Prairie Operating

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Prairie Operating by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock valued at $2,533,000 after purchasing an additional 7,042 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Prairie Operating in the 1st quarter valued at about $3,678,000. Geode Capital Management LLC lifted its position in shares of Prairie Operating by 76.2% in the second quarter. Geode Capital Management LLC now owns 661,390 shares of the company’s stock worth $1,981,000 after purchasing an additional 285,934 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Prairie Operating in the second quarter worth approximately $860,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Prairie Operating by 22.8% during the second quarter. Rockefeller Capital Management L.P. now owns 173,151 shares of the company’s stock worth $519,000 after purchasing an additional 32,145 shares during the period. 34.28% of the stock is owned by institutional investors and hedge funds.

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.