Insider Buying: Prairie Operating (NASDAQ:PROP) Major Shareholder Purchases 210,981 Shares of Stock

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal bought 210,981 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was acquired at an average price of $1.61 per share, for a total transaction of $339,679.41. Following the acquisition, the insider directly owned 15,481,603 shares in the company, valued at $24,925,380.83. The trade was a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, December 24th, Nominees Pty Ltd Atf Narrogal acquired 50,000 shares of Prairie Operating stock. The shares were bought at an average price of $1.68 per share, for a total transaction of $84,000.00.
• On Friday, December 19th, Nominees Pty Ltd Atf Narrogal purchased 33,825 shares of Prairie Operating stock. The shares were acquired at an average price of $1.68 per share, for a total transaction of $56,826.00.
• On Thursday, December 18th, Nominees Pty Ltd Atf Narrogal bought 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 bought 70,795 shares of Prairie Operating stock. The stock was bought at an average price of $1.68 per share, for a total transaction of $118,935.60.
• On Tuesday, December 16th, Nominees Pty Ltd Atf Narrogal acquired 86,022 shares of Prairie Operating stock. The shares were purchased at an average cost of $1.68 per share, with a total value of $144,516.96.
• On Monday, December 15th, Nominees Pty Ltd Atf Narrogal purchased 850,000 shares of Prairie Operating stock. The shares were purchased at an average cost of $1.69 per share, for a total transaction of $1,436,500.00.
• On Friday, December 12th, Nominees Pty Ltd Atf Narrogal acquired 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 acquired 42,781 shares of Prairie Operating stock. The stock was 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 bought 200 shares of Prairie Operating stock. The shares were 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 purchased 50,000 shares of Prairie Operating stock. The stock was bought at an average price of $1.72 per share, with a total value of $86,000.00.

Prairie Operating Stock Performance

NASDAQ PROP opened at $1.69 on Friday. The company’s 50 day simple moving average is $1.79 and its two-hundred day simple moving average is $2.43. 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 $1.57 and a 1 year high of $10.58. The stock has a market capitalization of $100.81 million, a PE ratio of -0.52 and a beta of 2.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Prairie Operating by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,276,221 shares of the company’s stock valued at $2,533,000 after acquiring an additional 7,042 shares during the last quarter. Woodline Partners LP purchased a new position in Prairie Operating in the 1st quarter worth approximately $3,678,000. Geode Capital Management LLC lifted its position in Prairie Operating by 76.2% in the second quarter. Geode Capital Management LLC now owns 661,390 shares of the company’s stock valued at $1,981,000 after purchasing an additional 285,934 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in shares of Prairie Operating during the first quarter valued at approximately $2,943,000. Finally, Marshall Wace LLP bought a new position in shares of Prairie Operating in the second quarter worth approximately $860,000. 34.28% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on PROP. Weiss Ratings reissued a “sell (d)” rating on shares of Prairie Operating in a report on Monday. Piper Sandler lowered their price target on Prairie Operating to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prairie Operating presently has a consensus rating of “Hold” and an average target price of $6.75.

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.