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

Shares of Prairie Operating Co. (NASDAQ:PROP) have been assigned an average rating of “Hold” from the six analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $6.75.

PROP has been the topic of several research analyst reports. Piper Sandler lowered their target price on shares of Prairie Operating to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a research report on Monday.

Insider Activity

In other news, major shareholder Nominees Pty Ltd Atf Narrogal acquired 850,000 shares of Prairie Operating stock in a transaction that occurred on Monday, December 15th. The stock was bought at an average price of $1.69 per share, for a total transaction of $1,436,500.00. Following the completion of the transaction, the insider owned 14,993,279 shares in the company, valued at $25,338,641.51. The trade was a 6.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders acquired 3,441,989 shares of company stock valued at $5,853,115. Company insiders own 15.44% of the company’s stock.

Institutional Investors Weigh In On Prairie Operating

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Prairie Operating by 0.6% during the third quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock valued at $2,533,000 after buying an additional 7,042 shares during the period. Woodline Partners LP purchased a new position in shares of Prairie Operating during the 1st quarter worth $3,678,000. Geode Capital Management LLC grew its position in shares of 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 during the period. Hodges Capital Management Inc. purchased a new stake in shares of Prairie Operating in the 1st quarter worth $2,943,000. Finally, Marshall Wace LLP bought a new position in Prairie Operating in the 2nd quarter worth $860,000. Hedge funds and other institutional investors own 34.28% of the company’s stock.

Prairie Operating Trading Up 8.3%

Shares of NASDAQ:PROP opened at $1.83 on Monday. 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 has a 1 year low of $1.57 and a 1 year high of $10.58. The company has a market cap of $109.16 million, a P/E ratio of -0.56 and a beta of 2.27. The stock’s fifty day moving average price is $1.78 and its 200-day moving average price is $2.41.

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.