Prairie Operating (NASDAQ:PROP) CEO Edward Kovalik Acquires 10,000 Shares of Stock

Key Points

• Edward Kovalik, CEO of Prairie Operating, acquired 10,000 shares at an average price of $2.17, increasing his total holdings to approximately 2.03 million shares valued at about $4.42 million.
• Prairie Operating recently reported disappointing earnings, with $0.18 EPS for the quarter, falling short of estimates by $1.10.
• Analysts maintain a Moderate Buy rating on the stock, with an average target price of $8.50, following recent coverage updates from various equity analysts.

Prairie Operating Co. (NASDAQ:PROP - Get Free Report) CEO Edward Kovalik purchased 10,000 shares of the business's stock in a transaction on Thursday, August 21st. The stock was purchased at an average price of $2.17 per share, for a total transaction of $21,700.00. Following the acquisition, the chief executive officer owned 2,037,035 shares of the company's stock, valued at approximately $4,420,365.95. This represents a 0.49% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Prairie Operating Stock Up 1.2%

NASDAQ PROP traded up $0.03 during trading hours on Monday, hitting $2.50. The company's stock had a trading volume of 1,717,463 shares, compared to its average volume of 2,741,573. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.60 and a quick ratio of 0.58. The company's 50-day simple moving average is $3.36 and its two-hundred day simple moving average is $4.56. Prairie Operating Co. has a 52 week low of $2.01 and a 52 week high of $12.30.

Prairie Operating (NASDAQ:PROP - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($1.10). The firm had revenue of $68.10 million for the quarter, compared to analysts' expectations of $125.50 million. Equities analysts expect that Prairie Operating Co. will post -2.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PROP shares. Citigroup initiated coverage on Prairie Operating in a report on Monday, June 2nd. They issued a "buy" rating and a $8.00 target price for the company. Wall Street Zen raised Prairie Operating from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. KeyCorp began coverage on Prairie Operating in a research note on Thursday, July 3rd. They set a "sector weight" rating on the stock. Piper Sandler downgraded shares of Prairie Operating from an "overweight" rating to a "neutral" rating in a report on Monday, August 18th. Finally, Johnson Rice initiated coverage on shares of Prairie Operating in a report on Monday, May 12th. They set an "accumulate" rating and a $9.00 price objective for the company. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.50.

Institutional Trading of Prairie Operating

A number of institutional investors have recently added to or reduced their stakes in PROP. JPMorgan Chase & Co. increased its position in shares of Prairie Operating by 121.8% during the fourth quarter. JPMorgan Chase & Co. now owns 15,451 shares of the company's stock valued at $107,000 after buying an additional 8,485 shares during the period. Geode Capital Management LLC lifted its stake in Prairie Operating by 105.5% in the 4th quarter. Geode Capital Management LLC now owns 250,614 shares of the company's stock worth $1,734,000 after purchasing an additional 128,648 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Prairie Operating by 128.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,376 shares of the company's stock valued at $30,000 after purchasing an additional 2,457 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Prairie Operating in the fourth quarter worth $201,000. Finally, Northern Trust Corp raised its position in shares of Prairie Operating by 92.6% in the fourth quarter. Northern Trust Corp now owns 62,884 shares of the company's stock worth $435,000 after buying an additional 30,242 shares in the last quarter. 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.

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