Prairie Operating (NASDAQ:PROP) Major Shareholder Acquires 70,795 Shares

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal bought 70,795 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were purchased at an average cost of $1.68 per share, with a total value of $118,935.60. Following the purchase, the insider directly owned 15,150,096 shares of the company’s stock, valued at $25,452,161.28. The trade was a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, December 18th, Nominees Pty Ltd Atf Narrogal purchased 36,701 shares of Prairie Operating stock. The shares were acquired at an average price of $1.68 per share, with a total value of $61,657.68.
• On Tuesday, December 16th, Nominees Pty Ltd Atf Narrogal acquired 86,022 shares of Prairie Operating stock. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $144,516.96.
• On Monday, December 15th, Nominees Pty Ltd Atf Narrogal bought 850,000 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.69 per share, with a total value of $1,436,500.00.
• On Friday, December 12th, Nominees Pty Ltd Atf Narrogal purchased 270,431 shares of Prairie Operating stock. The shares were acquired at an average price of $1.71 per share, for a total transaction of $462,437.01.
• On Wednesday, December 10th, Nominees Pty Ltd Atf Narrogal acquired 42,781 shares of Prairie Operating stock. The stock was 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 purchased 200 shares of Prairie Operating stock. The shares were acquired at an average price of $1.71 per share, with a total value of $342.00.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal acquired 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 bought 3,831 shares of Prairie Operating stock. The stock was purchased 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 purchased at an average price of $1.69 per share, with a total value of $400,491.13.
• On Thursday, November 20th, Nominees Pty Ltd Atf Narrogal purchased 800,000 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.71 per share, with a total value of $1,368,000.00.

Prairie Operating Stock Performance

NASDAQ:PROP traded down $0.01 on Thursday, reaching $1.68. 818,900 shares of the company’s stock were exchanged, compared to its average volume of 1,128,639. The firm has a market cap of $100.21 million, a price-to-earnings ratio of -0.52 and a beta of 2.16. The company has a debt-to-equity ratio of 4.11, a current ratio of 0.83 and a quick ratio of 0.80. The stock has a fifty day simple moving average of $1.81 and a 200-day simple moving average of $2.58. Prairie Operating Co. has a 52 week low of $1.64 and a 52 week high of $10.58.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Prairie Operating in a report on Monday. Piper Sandler reduced their target price on Prairie Operating to $2.00 and set a “neutral” rating for the company in a report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued 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.

Institutional Trading of Prairie Operating

A number of hedge funds have recently made changes to their positions in the stock. ELCO Management Co. LLC purchased a new position in Prairie Operating in the third quarter worth $26,000. Bank of America Corp DE lifted its stake 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 purchasing an additional 6,582 shares during the last quarter. Warther Private Wealth LLC bought a new stake in Prairie Operating during the third quarter worth about $31,000. JPMorgan Chase & Co. increased its position in shares of 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 purchasing an additional 8,640 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Prairie Operating during the 2nd quarter valued at about $32,000. 34.28% of the stock is owned by institutional investors.

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.