Prairie Operating Co. (NASDAQ:PROP) Receives $8.75 Average PT from Brokerages

Shares of Prairie Operating Co. (NASDAQ:PROP - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the five analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $8.75.

PROP has been the topic of several recent analyst reports. Wall Street Zen raised Prairie Operating from a "sell" rating to a "hold" rating in a report on Friday, June 6th. KeyCorp assumed coverage on Prairie Operating in a research report on Thursday, July 3rd. They set a "sector weight" rating on the stock. Johnson Rice started coverage on Prairie Operating in a report on Monday, May 12th. They issued an "accumulate" rating and a $9.00 price target for the company. Roth Capital began coverage on shares of Prairie Operating in a report on Thursday, June 12th. They set a "buy" rating and a $8.00 price objective on the stock. Finally, Citigroup initiated coverage on shares of Prairie Operating in a report on Monday, June 2nd. They issued a "buy" rating and a $8.00 target price for the company.

Insider Buying and Selling at Prairie Operating

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN grew its position in Prairie Operating by 128.0% in the 4th quarter. Wells Fargo & Company MN now owns 4,376 shares of the company's stock valued at $30,000 after buying an additional 2,457 shares during the last quarter. Navigation Wealth Management Inc. lifted its stake in shares of Prairie Operating by 13.6% in the 2nd quarter. Navigation Wealth Management Inc. now owns 25,007 shares of the company's stock worth $75,000 after acquiring an additional 3,000 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Prairie Operating by 30.6% during the first quarter. Bank of New York Mellon Corp now owns 14,741 shares of the company's stock worth $79,000 after acquiring an additional 3,453 shares during the period. FNY Investment Advisers LLC purchased a new position in Prairie Operating during the first quarter worth about $42,000. Finally, JPMorgan Chase & Co. lifted its position in Prairie Operating by 121.8% in the fourth quarter. JPMorgan Chase & Co. now owns 15,451 shares of the company's stock valued at $107,000 after purchasing an additional 8,485 shares during the period. Institutional investors and hedge funds own 34.28% of the company's stock.

Prairie Operating Stock Up 2.2%

Prairie Operating stock traded up $0.08 during trading on Monday, reaching $3.66. The stock had a trading volume of 1,105,282 shares, compared to its average volume of 384,009. Prairie Operating has a 52-week low of $2.74 and a 52-week high of $12.30. The business has a 50 day moving average price of $3.88 and a 200 day moving average price of $5.59. The company has a quick ratio of 0.56, a current ratio of 0.57 and a debt-to-equity ratio of 11.17. The stock has a market cap of $160.42 million, a PE ratio of -1.22 and a beta of 1.92.

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.