Stock Traders Buy High Volume of Prairie Operating Call Options (NASDAQ:PROP)
by Sarita Garza · The Markets DailyPrairie Operating Co. (NASDAQ:PROP – Get Free Report) was the recipient of some unusual options trading on Monday. Traders purchased 3,261 call options on the company. This is an increase of 291% compared to the average daily volume of 834 call options.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. William Blair set a $3.50 target price on shares of Prairie Operating in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d)” rating on shares of Prairie Operating in a research report on Monday, December 29th. Finally, Zacks Research cut Prairie Operating from a “hold” rating to a “strong sell” rating in a report on Thursday. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $6.10.
Read Our Latest Report on PROP
Prairie Operating Price Performance
Shares of Prairie Operating stock traded up $0.40 on Monday, reaching $2.00. 3,587,856 shares of the stock were exchanged, compared to its average volume of 1,583,154. 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 has a market cap of $119.00 million, a PE ratio of -0.62 and a beta of 2.44. The firm’s 50 day moving average is $1.79 and its 200-day moving average is $1.88. Prairie Operating has a one year low of $1.50 and a one year high of $6.90.
Insider Transactions at Prairie Operating
In other news, major shareholder Nominees Pty Ltd Atf Narrogal bought 210,981 shares of the stock in a transaction on Monday, December 29th. The stock was purchased at an average price of $1.61 per share, for a total transaction of $339,679.41. Following the acquisition, the insider owned 15,481,603 shares in the company, valued at approximately $24,925,380.83. This trade represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 1,651,736 shares of company stock worth $2,778,050. 15.44% of the stock is currently owned by corporate insiders.
Institutional Trading of Prairie Operating
Hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its holdings in Prairie Operating by 22.8% in the second quarter. Rockefeller Capital Management L.P. now owns 173,151 shares of the company’s stock valued at $519,000 after buying an additional 32,145 shares during the period. Retirement Planning Group LLC bought a new position in shares of Prairie Operating in the 4th quarter worth about $29,000. Magnolia Capital Advisors LLC raised its position in shares of Prairie Operating by 42.5% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 71,455 shares of the company’s stock worth $142,000 after acquiring an additional 21,325 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Prairie Operating in the 3rd quarter valued at about $252,000. Finally, ELCO Management Co. LLC acquired a new position in shares of Prairie Operating in the 3rd quarter valued at about $26,000. 34.28% of the stock is currently owned by institutional investors.
Prairie Operating Company Profile
Prairie Operating (NASDAQ: PROP) is a publicly traded independent exploration and production company focused on the acquisition, development and operation of onshore oil and natural gas properties in the United States. The firm seeks to identify and capitalize on undervalued or overlooked assets, applying a disciplined approach to drilling, completion and production optimization. By concentrating on core resource plays, Prairie Operating aims to deliver steady production growth and free cash flow.
The company’s asset base is concentrated in the Permian Basin region of West Texas and southeastern New Mexico, where it holds working interests in both conventional and unconventional reservoirs.