Prairie Operating Co. (NASDAQ:PROP) Given Consensus Rating of “Hold” by Brokerages

Shares of Prairie Operating Co. (NASDAQ:PROP) have been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $6.10.

PROP has been the topic of several analyst reports. William Blair set a $3.50 price target on Prairie Operating in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research note on Thursday, March 5th.

Insider Activity

In other news, major shareholder Nominees Pty Ltd Atf Narrogal purchased 210,981 shares of Prairie Operating stock in a transaction dated Monday, December 29th. The shares were purchased at an average price of $1.61 per share, with a total value of $339,679.41. Following the transaction, the insider owned 15,481,603 shares in the company, valued at $24,925,380.83. This represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 1,338,324 shares of company stock worth $2,242,116. 15.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prairie Operating

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP acquired a new stake in Prairie Operating during the fourth quarter worth $25,000. ELCO Management Co. LLC purchased a new position in shares of Prairie Operating during the 3rd quarter worth $26,000. Retirement Planning Group LLC purchased a new position in shares of Prairie Operating during the 4th quarter worth $29,000. Bank of America Corp DE increased its position in shares of Prairie Operating by 203.8% during the 2nd quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock worth $29,000 after purchasing an additional 6,582 shares during the last quarter. Finally, Warther Private Wealth LLC acquired a new stake in shares of Prairie Operating during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

Prairie Operating Stock Performance

NASDAQ PROP opened at $1.99 on Friday. The stock’s fifty day moving average is $1.82 and its two-hundred day moving average is $1.88. The firm has a market capitalization of $118.70 million, a P/E ratio of -0.61 and a beta of 2.44. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.80 and a current ratio of 0.83. Prairie Operating has a fifty-two week low of $1.50 and a fifty-two week high of $6.47.

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.