Brokerages Set Prairie Operating Co. (NASDAQ:PROP) PT at $8.75

Prairie Operating Co. (NASDAQ:PROP) has earned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $8.75.

Several equities analysts have weighed in on the company. Roth Capital began coverage on Prairie Operating in a research report on Thursday, June 12th. They issued a “buy” rating and a $8.00 target price for the company. Johnson Rice began coverage on shares of Prairie Operating in a research note on Monday, May 12th. They issued an “accumulate” rating and a $9.00 price objective for the company. KeyCorp started coverage on shares of Prairie Operating in a research note on Thursday, July 3rd. They set a “sector weight” rating on the stock. Citigroup began coverage on shares of Prairie Operating in a report on Monday, June 2nd. They set a “buy” rating and a $8.00 target price on the stock. Finally, Piper Sandler decreased their price target on shares of Prairie Operating from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th.

Insider Activity at Prairie Operating

In other news, President Gary C. Hanna bought 25,000 shares of Prairie Operating stock in a transaction that occurred on Tuesday, May 27th. The shares were purchased at an average price of $3.83 per share, with a total value of $95,750.00. Following the completion of the acquisition, the president directly owned 1,350,226 shares in the company, valued at $5,171,365.58. The trade was a 1.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward Kovalik bought 6,700 shares of Prairie Operating stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $3.74 per share, for a total transaction of $25,058.00. Following the acquisition, the chief executive officer owned 1,339,055 shares of the company’s stock, valued at $5,008,065.70. This represents a 0.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 57,340 shares of company stock worth $217,567. 15.44% of the stock is owned by corporate insiders.

Institutional Trading of Prairie Operating

Several hedge funds have recently added to or reduced their stakes in PROP. Woodline Partners LP acquired a new stake in Prairie Operating in the first quarter valued at approximately $3,678,000. Hodges Capital Management Inc. acquired a new stake in shares of Prairie Operating during the 1st quarter worth about $2,943,000. Geode Capital Management LLC raised its position in shares of Prairie Operating by 105.5% during the 4th quarter. Geode Capital Management LLC now owns 250,614 shares of the company’s stock worth $1,734,000 after acquiring an additional 128,648 shares in the last quarter. Rhumbline Advisers raised its position in shares of Prairie Operating by 1,053.9% during the 4th quarter. Rhumbline Advisers now owns 40,224 shares of the company’s stock worth $278,000 after acquiring an additional 36,738 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Prairie Operating by 92.6% during the 4th quarter. Northern Trust Corp now owns 62,884 shares of the company’s stock worth $435,000 after acquiring an additional 30,242 shares in the last quarter. Institutional investors and hedge funds own 34.28% of the company’s stock.

Prairie Operating Stock Performance

NASDAQ PROP opened at $3.50 on Monday. The stock has a market cap of $153.41 million, a PE ratio of -1.17 and a beta of 1.92. The company has a current ratio of 0.57, a quick ratio of 0.56 and a debt-to-equity ratio of 11.17. Prairie Operating has a twelve month low of $2.74 and a twelve month high of $12.30. The stock has a fifty day simple moving average of $3.84 and a 200-day simple moving average of $5.52.

About Prairie Operating

Prairie Operating Co, an independent energy company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company holds assets in the Denver-Julesburg Basin in Colorado; and the Niobrara and Codell formations. Prairie Operating Co is based in Houston Texas.