Brokerages Set Prairie Operating Co. (NASDAQ:PROP) Price Target at $6.75

Shares of Prairie Operating Co. (NASDAQ:PROP) have earned an average rating of “Hold” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.75.

Several research analysts have recently weighed in on PROP shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prairie Operating in a report on Monday, December 29th. Zacks Research upgraded Prairie Operating to a “hold” rating in a research report on Thursday, January 1st.

Prairie Operating Trading Up 8.9%

Shares of Prairie Operating stock opened at $1.96 on Tuesday. The company’s 50-day moving average price is $1.78 and its 200-day moving average price is $1.99. The company has a current ratio of 0.83, a quick ratio of 0.80 and a debt-to-equity ratio of 4.11. Prairie Operating has a 12-month low of $1.57 and a 12-month high of $8.96. The company has a market cap of $116.91 million, a price-to-earnings ratio of -0.60 and a beta of 2.45.

Insider Buying and Selling at Prairie Operating

In other news, major shareholder Nominees Pty Ltd Atf Narrogal bought 210,981 shares of Prairie Operating stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $1.61 per share, with a total value of $339,679.41. Following the completion of the purchase, the insider directly owned 15,481,603 shares in the company, valued at $24,925,380.83. The trade was a 1.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 1,655,567 shares of company stock worth $2,784,563. Company insiders own 15.44% of the company’s stock.

Institutional Trading of Prairie Operating

A number of hedge funds have recently bought and sold shares of PROP. Bank of America Corp DE grew its position in Prairie Operating by 203.8% during the second 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 during the last quarter. Vanguard Group Inc. raised its position in Prairie Operating by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock worth $2,533,000 after purchasing an additional 7,042 shares during the period. FNY Investment Advisers LLC raised its position in Prairie Operating by 92.2% in the 2nd quarter. FNY Investment Advisers LLC now owns 15,376 shares of the company’s stock worth $46,000 after purchasing an additional 7,376 shares during the period. Squarepoint Ops LLC lifted its stake in Prairie Operating by 9.3% in the third quarter. Squarepoint Ops LLC now owns 100,607 shares of the company’s stock worth $200,000 after purchasing an additional 8,572 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Prairie Operating by 411.4% during the second quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock valued at $32,000 after buying an additional 8,640 shares during the last quarter. Institutional investors own 34.28% of the company’s stock.

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.