Prairie Operating (NASDAQ:PROP) Major Shareholder Nominees Pty Ltd Atf Narrogal Acquires 199,463 Shares

Prairie Operating Co. (NASDAQ:PROP) major shareholder Nominees Pty Ltd Atf Narrogal acquired 199,463 shares of Prairie Operating stock in a transaction dated Friday, November 14th. The stock was purchased at an average price of $1.73 per share, for a total transaction of $345,070.99. Following the completion of the acquisition, the insider directly owned 12,239,077 shares in the company, valued at approximately $21,173,603.21. This represents a 1.66% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, November 21st, Nominees Pty Ltd Atf Narrogal bought 236,977 shares of Prairie Operating stock. The shares were 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 bought 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 purchased 199,271 shares of Prairie Operating stock. The stock was 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 purchased 131,814 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.75 per share, with a total value of $230,674.50.
• On Monday, November 17th, Nominees Pty Ltd Atf Narrogal acquired 168,897 shares of Prairie Operating stock. The shares were acquired at an average cost of $1.75 per share, with a total value of $295,569.75.

Prairie Operating Stock Down 2.0%

Shares of PROP traded down $0.04 during mid-day trading on Monday, reaching $1.72. The company’s stock had a trading volume of 368,596 shares, compared to its average volume of 1,186,159. The company has a debt-to-equity ratio of 4.11, a current ratio of 0.83 and a quick ratio of 0.80. Prairie Operating Co. has a 12-month low of $1.64 and a 12-month high of $10.58. The stock has a market cap of $102.30 million, a PE ratio of -0.53 and a beta of 2.07. The company’s 50 day moving average is $1.90 and its 200 day moving average is $2.86.

Institutional Investors Weigh In On Prairie Operating

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PROP. Bank of America Corp DE boosted its holdings in shares of Prairie Operating by 203.8% in the second quarter. Bank of America Corp DE now owns 9,812 shares of the company’s stock valued at $29,000 after acquiring an additional 6,582 shares during the period. State of Wyoming purchased a new position in Prairie Operating during the 2nd quarter worth $32,000. XTX Topco Ltd purchased a new position in Prairie Operating during the 2nd quarter worth $32,000. JPMorgan Chase & Co. increased its stake in Prairie Operating by 411.4% in the second 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 period. Finally, SageView Advisory Group LLC purchased a new stake in shares of Prairie Operating in the first quarter valued at about $59,000. Hedge funds and other institutional investors own 34.28% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Prairie Operating from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Prairie Operating in a report on Tuesday, October 14th. Finally, Piper Sandler cut their price target on shares of Prairie Operating to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.