Prairie Operating Co. (NASDAQ:PROP) Given Consensus Recommendation of "Buy" by Analysts

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) has been given a consensus recommendation of "Buy" by the four analysts that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $8.75.

PROP has been the topic of a number of recent analyst reports. Citigroup initiated coverage on Prairie Operating in a research report on Monday, June 2nd. They issued a "buy" rating and a $8.00 target price on the stock. Johnson Rice initiated 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. Roth Capital started coverage on shares of Prairie Operating in a research report on Thursday. They issued a "buy" rating and a $8.00 target price on the stock. Wall Street Zen raised shares of Prairie Operating from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Finally, Piper Sandler dropped their price target on Prairie Operating from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th.

Prairie Operating Price Performance

Prairie Operating stock traded up $0.03 during mid-day trading on Thursday, reaching $3.98. 878,344 shares of the company were exchanged, compared to its average volume of 304,579. The firm has a market cap of $174.44 million, a PE ratio of -1.33 and a beta of 2.03. The company has a fifty day simple moving average of $4.06 and a 200-day simple moving average of $6.20. Prairie Operating has a 12 month low of $3.35 and a 12 month high of $12.79.

Insider Buying and Selling

In other news, CEO Edward Kovalik acquired 6,700 shares of Prairie Operating stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average price of $3.74 per share, with a total value of $25,058.00. Following the completion of the purchase, the chief executive officer now owns 1,339,055 shares in the company, valued at approximately $5,008,065.70. The trade was a 0.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, President Gary C. Hanna bought 25,000 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was acquired at an average price of $3.83 per share, for a total transaction of $95,750.00. Following the completion of the purchase, the president now directly owns 1,350,226 shares in the company, valued at approximately $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 have purchased 52,340 shares of company stock valued at $197,617. 15.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On Prairie Operating

Large investors have recently added to or reduced their stakes in the company. Woodline Partners LP bought a new position in shares of Prairie Operating during the 1st quarter valued at $3,678,000. Hodges Capital Management Inc. bought a new stake in Prairie Operating in the first quarter worth $2,943,000. Geode Capital Management LLC boosted its position in Prairie Operating by 105.5% during the fourth quarter. Geode Capital Management LLC now owns 250,614 shares of the company's stock valued at $1,734,000 after buying an additional 128,648 shares during the period. Northern Trust Corp grew its stake in shares of Prairie Operating by 92.6% during the fourth quarter. Northern Trust Corp now owns 62,884 shares of the company's stock valued at $435,000 after buying an additional 30,242 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Prairie Operating by 1,053.9% in the fourth quarter. Rhumbline Advisers now owns 40,224 shares of the company's stock worth $278,000 after buying an additional 36,738 shares during the period. Hedge funds and other institutional investors own 34.28% of the company's stock.

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.