Prairie Operating Co. (NASDAQ:PROP) Receives Average Recommendation of “Hold” from Analysts

Prairie Operating Co. (NASDAQ:PROP) has been given an average rating of “Hold” by the six research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $6.75.

A number of equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Prairie Operating in a research note on Tuesday, October 14th. Finally, Piper Sandler lowered their price objective on Prairie Operating to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, October 21st.

Insiders Place Their Bets

In other Prairie Operating news, Director Jonathan H. Gray purchased 89,000 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average cost of $2.11 per share, with a total value of $187,790.00. Following the completion of the acquisition, the director directly owned 675,817 shares of the company’s stock, valued at $1,425,973.87. This trade represents a 15.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased a total of 442,480 shares of company stock worth $937,103 in the last three months. 15.44% of the stock is owned by insiders.

Institutional Trading of Prairie Operating

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings 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 buying an additional 7,042 shares in the last quarter. Woodline Partners LP purchased a new stake in Prairie Operating in the first quarter valued at $3,678,000. Geode Capital Management LLC boosted its stake 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 acquiring an additional 285,934 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in Prairie Operating in the first quarter valued at $2,943,000. Finally, Marshall Wace LLP purchased a new position in shares of Prairie Operating during the second quarter worth about $860,000. Institutional investors and hedge funds own 34.28% of the company’s stock.

Prairie Operating Stock Up 4.3%

PROP stock opened at $1.92 on Friday. The company’s 50 day moving average price is $1.99 and its 200 day moving average price is $3.04. The firm has a market capitalization of $96.54 million, a price-to-earnings ratio of -0.50 and a beta of 2.07. Prairie Operating has a fifty-two week low of $1.64 and a fifty-two week high of $10.58. The company has a debt-to-equity ratio of 4.13, a quick ratio of 0.58 and a current ratio of 0.60.

Prairie Operating (NASDAQ:PROP) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $1.28 by ($1.10). The business had revenue of $68.10 million for the quarter, compared to the consensus estimate of $125.50 million. On average, equities research analysts anticipate that Prairie Operating will post -2.13 EPS for the current fiscal year.

Prairie Operating Company Profile

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.