Prairie Operating Co. (NASDAQ:PROP) Receives $6.10 Average PT from Analysts

Shares of Prairie Operating Co. (NASDAQ:PROP) have received a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.10.

Several research firms have commented on PROP. Weiss Ratings reissued a “sell (d)” rating on shares of Prairie Operating in a research report on Monday, December 29th. Zacks Research downgraded shares of Prairie Operating from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. Finally, William Blair set a $3.50 target price on shares of Prairie Operating in a research report on Tuesday, March 3rd.

Prairie Operating Trading Down 7.2%

Prairie Operating stock opened at $1.28 on Wednesday. The company has a debt-to-equity ratio of 2.83, a current ratio of 0.63 and a quick ratio of 0.61. The company has a market capitalization of $98.01 million, a price-to-earnings ratio of -0.37 and a beta of 1.65. Prairie Operating has a one year low of $1.22 and a one year high of $4.80. The company’s fifty day moving average price is $1.81 and its two-hundred day moving average price is $1.82.

Hedge Funds Weigh In On Prairie Operating

Several hedge funds have recently bought and sold shares of PROP. Lazard Asset Management LLC acquired a new position in Prairie Operating during the fourth quarter worth $1,628,000. Woodline Partners LP acquired a new position in Prairie Operating during the first quarter worth $3,678,000. Marshall Wace LLP acquired a new stake in shares of Prairie Operating in the second quarter valued at about $860,000. Geode Capital Management LLC grew its position in shares of 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. Finally, FOCUS Wealth Advisors LLC acquired a new stake in shares of Prairie Operating in the third quarter valued at about $278,000. 34.28% of the stock is owned by institutional investors and hedge funds.

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.