Wall Street Zen Upgrades Prairie Operating (NASDAQ:PROP) to Hold

Wall Street Zen upgraded shares of Prairie Operating (NASDAQ:PROP) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other research analysts also recently weighed in on the stock. Citigroup began coverage on shares of Prairie Operating in a research report on Monday, June 2nd. They issued a “buy” rating and a $8.00 price objective for the company. Roth Capital began coverage on shares of Prairie Operating in a research report on Thursday, June 12th. They issued a “buy” rating and a $8.00 price objective for the company. Piper Sandler decreased their price objective on shares of Prairie Operating from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, July 17th. Johnson Rice began coverage on shares of Prairie Operating in a research report on Monday, May 12th. They issued an “accumulate” rating and a $9.00 price objective for the company. Finally, KeyCorp began coverage on shares of Prairie Operating in a research report on Thursday, July 3rd. They issued a “sector weight” rating for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.50.

Prairie Operating Trading Down 1.8%

NASDAQ PROP opened at $2.70 on Friday. The company has a market capitalization of $135.76 million, a PE ratio of -0.90 and a beta of 2.01. The company has a fifty day moving average of $3.52 and a 200 day moving average of $4.77. Prairie Operating has a 1 year low of $2.40 and a 1 year high of $12.30. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.60 and a quick ratio of 0.58.

Prairie Operating (NASDAQ:PROP) last posted its earnings results on Tuesday, August 12th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($1.10). The company had revenue of $68.10 million for the quarter, compared to the consensus estimate of $125.50 million. Research analysts forecast that Prairie Operating will post -2.13 earnings per share for the current year.

Insider Transactions at Prairie Operating

In related news, CEO Edward Kovalik bought 6,700 shares of the business’s stock in a transaction dated Friday, May 23rd. The stock was acquired 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 directly owned 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 purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Gary C. Hanna bought 25,000 shares of the business’s stock in a transaction dated 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 purchase, the president directly owned 1,350,226 shares of the company’s stock, valued at approximately $5,171,365.58. This represents a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 57,340 shares of company stock valued at $217,567 in the last three months. Corporate insiders own 15.44% of the company’s stock.

Institutional Trading of Prairie Operating

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in shares of Prairie Operating by 203.8% during the second quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock worth $29,000 after purchasing an additional 6,582 shares in the last quarter. Wells Fargo & Company MN grew its stake in 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 acquiring an additional 2,457 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Prairie Operating by 411.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock valued at $32,000 after acquiring an additional 8,640 shares in the last quarter. XTX Topco Ltd purchased a new stake in Prairie Operating during the 2nd quarter valued at about $32,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Prairie Operating during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 34.28% of the company’s stock.

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.