Prairie Operating Co. (NASDAQ:PROP) Receives Average Recommendation of “Hold” from Analysts

Shares of Prairie Operating Co. (NASDAQ:PROP) have been assigned an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.10.

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

Prairie Operating Stock Down 5.2%

Shares of NASDAQ PROP opened at $1.99 on Friday. The firm has a market cap of $118.70 million, a price-to-earnings ratio of -0.61 and a beta of 2.44. The company’s 50-day simple moving average is $1.82 and its 200-day simple moving average is $1.88. The company has a quick ratio of 0.80, a current ratio of 0.83 and a debt-to-equity ratio of 4.11. Prairie Operating has a 52-week low of $1.50 and a 52-week high of $6.47.

Insider Buying and Selling

In other news, major shareholder Nominees Pty Ltd Atf Narrogal acquired 850,000 shares of the firm’s stock in a transaction on Monday, December 15th. The shares were bought at an average price of $1.69 per share, for a total transaction of $1,436,500.00. Following the acquisition, the insider owned 14,993,279 shares of the company’s stock, valued at approximately $25,338,641.51. This trade represents a 6.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 1,338,324 shares of company stock valued at $2,242,116. 15.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prairie Operating

A number of large investors have recently modified their holdings of PROP. Woodline Partners LP purchased a new position in shares of Prairie Operating in the first quarter worth about $3,678,000. Geode Capital Management LLC grew its stake in Prairie Operating by 76.2% during the 2nd 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 grew its stake in Prairie Operating by 90.5% during the 2nd 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 in the last quarter. Intech Investment Management LLC acquired a new stake in Prairie Operating in the 2nd quarter valued at about $39,000. Finally, Rockefeller Capital Management L.P. lifted 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 worth $519,000 after purchasing an additional 32,145 shares in the last quarter. Hedge funds and other 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.