Insider Buying: Prairie Operating (NASDAQ:PROP) Major Shareholder Purchases $144,516.96 in Stock

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal bought 86,022 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $144,516.96. Following the acquisition, the insider directly owned 15,079,301 shares of the company’s stock, valued at $25,333,225.68. The trade was a 0.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Nominees Pty Ltd Atf Narrogal also recently made the following trade(s):

• On Thursday, December 18th, Nominees Pty Ltd Atf Narrogal purchased 36,701 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.68 per share, with a total value of $61,657.68.
• On Wednesday, December 17th, Nominees Pty Ltd Atf Narrogal acquired 70,795 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.68 per share, with a total value of $118,935.60.
• On Monday, December 15th, Nominees Pty Ltd Atf Narrogal acquired 850,000 shares of Prairie Operating stock. The stock was acquired at an average price of $1.69 per share, for a total transaction of $1,436,500.00.
• On Friday, December 12th, Nominees Pty Ltd Atf Narrogal bought 270,431 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.71 per share, for a total transaction of $462,437.01.
• On Wednesday, December 10th, Nominees Pty Ltd Atf Narrogal bought 42,781 shares of Prairie Operating stock. The shares were acquired at an average price of $1.71 per share, with a total value of $73,155.51.
• On Tuesday, December 9th, Nominees Pty Ltd Atf Narrogal purchased 200 shares of Prairie Operating stock. The stock was bought at an average price of $1.71 per share, for a total transaction of $342.00.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal acquired 50,000 shares of Prairie Operating stock. The shares were bought at an average cost of $1.72 per share, for a total transaction of $86,000.00.
• On Monday, November 24th, Nominees Pty Ltd Atf Narrogal acquired 3,831 shares of Prairie Operating stock. The shares were bought at an average price of $1.70 per share, with a total value of $6,512.70.
• On Friday, November 21st, Nominees Pty Ltd Atf Narrogal bought 236,977 shares of Prairie Operating stock. The stock was bought at an average cost of $1.69 per share, for a total transaction of $400,491.13.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal purchased 800,000 shares of Prairie Operating stock. The shares were bought at an average price of $1.71 per share, for a total transaction of $1,368,000.00.

Prairie Operating Price Performance

Shares of PROP opened at $1.68 on Friday. The company has a debt-to-equity ratio of 4.11, a current ratio of 0.83 and a quick ratio of 0.80. Prairie Operating Co. has a 1-year low of $1.64 and a 1-year high of $10.58. The stock has a market cap of $100.21 million, a PE ratio of -0.52 and a beta of 2.16. The firm has a fifty day moving average price of $1.81 and a 200 day moving average price of $2.56.

Analyst Ratings Changes

PROP has been the subject of a number of research analyst reports. Piper Sandler decreased their target price on Prairie Operating to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, October 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Prairie Operating in a report on Monday, December 15th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.75.

Hedge Funds Weigh In On Prairie Operating

Institutional investors have recently added to or reduced their stakes in the stock. Hodges Capital Management Inc. acquired a new position in shares of Prairie Operating in the first quarter valued at approximately $2,943,000. Wellington Management Group LLP acquired a new stake in shares of Prairie Operating during the first quarter worth $97,000. Brave Asset Management Inc. purchased a new position in Prairie Operating in the 2nd quarter valued at $60,000. Rockefeller Capital Management L.P. increased its stake in Prairie Operating by 22.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 173,151 shares of the company’s stock valued at $519,000 after buying an additional 32,145 shares during the period. Finally, Moss Adams Wealth Advisors LLC acquired a new position in Prairie Operating in the 2nd quarter valued at $51,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

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.