Citigroup Begins Coverage on Prairie Operating (NASDAQ:PROP)

Analysts at Citigroup began coverage on shares of Prairie Operating (NASDAQ:PROP - Get Free Report) in a research report issued on Monday, Marketbeat reports. The firm set a "buy" rating and a $8.00 price target on the stock. Citigroup's price target indicates a potential upside of 101.01% from the company's current price.

A number of other equities analysts have also weighed in on PROP. Piper Sandler decreased their price objective on shares of Prairie Operating from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of Prairie Operating from a "hold" rating to a "sell" rating in a research report on Saturday, May 24th. Finally, Johnson Rice started coverage on Prairie Operating in a research report on Monday, May 12th. They set an "accumulate" rating and a $9.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.

Prairie Operating Trading Up 5.3%

Prairie Operating stock traded up $0.20 during mid-day trading on Monday, hitting $3.98. The company had a trading volume of 683,922 shares, compared to its average volume of 281,620. The stock's 50 day moving average price is $4.20 and its two-hundred day moving average price is $6.38. The company has a market capitalization of $174.44 million, a PE ratio of -1.33 and a beta of 3.13. Prairie Operating has a 12 month low of $3.35 and a 12 month high of $13.59.

Insider Activity

In other Prairie Operating news, President Gary C. Hanna purchased 25,000 shares of Prairie Operating stock in a transaction that occurred on Tuesday, May 27th. The shares were bought at an average price of $3.83 per share, for a total transaction of $95,750.00. Following the completion of the transaction, the president now owns 1,350,226 shares of the company's stock, valued at approximately $5,171,365.58. This trade represents a 1.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Edward Kovalik acquired 6,700 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $3.74 per share, for a total transaction of $25,058.00. Following the completion of the transaction, the chief executive officer now owns 1,339,055 shares of the company's stock, valued at approximately $5,008,065.70. This trade represents a 0.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 43,840 shares of company stock worth $163,847 over the last 90 days. Corporate insiders own 15.44% of the company's stock.

Institutional Trading of Prairie Operating

Several institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in shares of Prairie Operating by 128.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,376 shares of the company's stock worth $30,000 after buying an additional 2,457 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Prairie Operating in the 1st quarter worth approximately $42,000. SageView Advisory Group LLC purchased a new stake in shares of Prairie Operating in the 1st quarter worth approximately $59,000. JPMorgan Chase & Co. lifted its position in shares of Prairie Operating by 163.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company's stock worth $61,000 after purchasing an additional 4,321 shares during the period. Finally, Quotient Wealth Partners LLC purchased a new stake in shares of Prairie Operating in the 1st quarter worth approximately $73,000. 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.