Prairie Operating Co. (NASDAQ:PROP) Receives $6.10 Consensus PT from Analysts

Prairie Operating Co. (NASDAQ:PROP) has received an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $6.10.

Several brokerages recently issued reports on PROP. Zacks Research cut Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Prairie Operating in a research report on Monday, December 29th. Finally, William Blair set a $3.50 price objective on Prairie Operating in a research note on Tuesday, March 3rd.

Prairie Operating Stock Performance

Shares of Prairie Operating stock opened at $1.72 on Friday. The company has a market cap of $102.60 million, a PE ratio of -0.53 and a beta of 2.44. Prairie Operating has a 52 week low of $1.50 and a 52 week high of $6.47. The business has a 50 day moving average price of $1.82 and a 200-day moving average price of $1.86. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 4.11.

Insider Buying and Selling at Prairie Operating

In other news, major shareholder Nominees Pty Ltd Atf Narrogal purchased 210,981 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were bought at an average cost of $1.61 per share, with a total value of $339,679.41. Following the completion of the transaction, the insider directly 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought 402,302 shares of company stock worth $661,099 over the last 90 days. 15.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On Prairie Operating

Several hedge funds have recently modified their holdings of the company. Woodline Partners LP purchased a new position in shares of Prairie Operating in the 1st quarter worth approximately $3,678,000. Geode Capital Management LLC grew its holdings 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 valued at $1,981,000 after acquiring an additional 285,934 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Prairie Operating by 90.5% during the second quarter. Cetera Investment Advisers now owns 19,745 shares of the company’s stock valued at $59,000 after acquiring an additional 9,379 shares during the last quarter. Intech Investment Management LLC bought a new stake in Prairie Operating during the second quarter worth $39,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in 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 acquiring an additional 32,145 shares during the period. 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.