Insider Buying: Prairie Operating (NASDAQ:PROP) Major Shareholder Purchases 850,000 Shares of Stock

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal purchased 850,000 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was purchased at an average price of $1.69 per share, for a total transaction of $1,436,500.00. Following the transaction, the insider directly owned 14,993,279 shares in the company, valued at approximately $25,338,641.51. This trade represents a 6.01% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Nominees Pty Ltd Atf Narrogal also recently made the following trade(s):

• On Friday, December 12th, Nominees Pty Ltd Atf Narrogal acquired 270,431 shares of Prairie Operating stock. The shares were purchased at an average price of $1.71 per share, with a total value of $462,437.01.
• On Wednesday, December 10th, Nominees Pty Ltd Atf Narrogal bought 42,781 shares of Prairie Operating stock. The shares were purchased at an average cost of $1.71 per share, with a total value of $73,155.51.
• On Tuesday, December 9th, Nominees Pty Ltd Atf Narrogal bought 200 shares of Prairie Operating stock. The stock was purchased at an average price of $1.71 per share, for a total transaction of $342.00.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal purchased 50,000 shares of Prairie Operating stock. The shares were purchased at an average cost of $1.72 per share, for a total transaction of $86,000.00.
• On Monday, November 24th, Nominees Pty Ltd Atf Narrogal purchased 3,831 shares of Prairie Operating stock. The shares were acquired at an average price of $1.70 per share, with a total value of $6,512.70.
• On Friday, November 21st, Nominees Pty Ltd Atf Narrogal acquired 236,977 shares of Prairie Operating stock. The stock was acquired at an average cost of $1.69 per share, with a total value of $400,491.13.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal acquired 800,000 shares of Prairie Operating stock. The stock was acquired at an average cost of $1.71 per share, for a total transaction of $1,368,000.00.
• On Wednesday, November 19th, Nominees Pty Ltd Atf Narrogal bought 199,271 shares of Prairie Operating stock. The shares were acquired at an average price of $1.72 per share, for a total transaction of $342,746.12.
• On Tuesday, November 18th, Nominees Pty Ltd Atf Narrogal bought 131,814 shares of Prairie Operating stock. The stock was acquired at an average price of $1.75 per share, with a total value of $230,674.50.
• On Monday, November 17th, Nominees Pty Ltd Atf Narrogal purchased 168,897 shares of Prairie Operating stock. The stock was acquired at an average cost of $1.75 per share, for a total transaction of $295,569.75.

Prairie Operating Trading Down 2.3%

Shares of Prairie Operating stock traded down $0.04 on Monday, reaching $1.67. 2,564,672 shares of the company’s stock were exchanged, compared to its average volume of 1,037,429. The company has a market capitalization of $99.62 million, a P/E ratio of -0.52 and a beta of 2.16. Prairie Operating Co. has a 52 week low of $1.64 and a 52 week high of $10.58. The company has a debt-to-equity ratio of 4.11, a quick ratio of 0.80 and a current ratio of 0.83. The firm’s 50-day moving average is $1.83 and its two-hundred day moving average is $2.61.

Hedge Funds Weigh In On Prairie Operating

A number of large investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in 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 buying an additional 6,582 shares during the last quarter. State of Wyoming bought a new stake in shares of Prairie Operating during the second quarter worth about $32,000. XTX Topco Ltd bought a new stake in shares of Prairie Operating during the second quarter worth about $32,000. JPMorgan Chase & Co. raised its holdings in shares of Prairie Operating by 411.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 10,740 shares of the company’s stock worth $32,000 after acquiring an additional 8,640 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new position in Prairie Operating in the 1st quarter valued at about $59,000. 34.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PROP shares. Piper Sandler cut their target price on shares of Prairie Operating to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Prairie Operating in a report on Monday, December 8th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.75.

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.