Prairie Operating (NASDAQ:PROP) Coverage Initiated at Johnson Rice

Equities research analysts at Johnson Rice initiated coverage on shares of Prairie Operating (NASDAQ:PROP) in a research report issued on Monday,Benzinga reports. The brokerage set an “accumulate” rating and a $9.00 price target on the stock. Johnson Rice’s price objective would indicate a potential upside of 105.01% from the stock’s current price.

Separately, Piper Sandler initiated coverage on shares of Prairie Operating in a report on Wednesday, April 30th. They issued an “overweight” rating and a $11.00 price target on the stock.

Prairie Operating Price Performance

Shares of NASDAQ PROP opened at $4.39 on Monday. Prairie Operating has a 12-month low of $3.35 and a 12-month high of $13.91. The company has a market capitalization of $117.91 million, a PE ratio of -1.46 and a beta of 3.13. The firm’s 50-day moving average is $4.80 and its two-hundred day moving average is $6.86.

Hedge Funds Weigh In On Prairie Operating

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Prairie Operating by 1,053.9% during the fourth quarter. Rhumbline Advisers now owns 40,224 shares of the company’s stock valued at $278,000 after buying an additional 36,738 shares during the period. Geode Capital Management LLC increased its position in Prairie Operating by 105.5% during the fourth quarter. Geode Capital Management LLC now owns 250,614 shares of the company’s stock worth $1,734,000 after purchasing an additional 128,648 shares during the last quarter. JPMorgan Chase & Co. increased its position in Prairie Operating by 163.4% during the third quarter. JPMorgan Chase & Co. now owns 6,966 shares of the company’s stock worth $61,000 after purchasing an additional 4,321 shares during the last quarter. Barclays PLC increased its position in Prairie Operating by 321.7% during the third quarter. Barclays PLC now owns 5,996 shares of the company’s stock worth $52,000 after purchasing an additional 4,574 shares during the last quarter. Finally, Navigation Wealth Management Inc. acquired a new position in Prairie Operating during the fourth quarter worth approximately $83,000. Hedge funds and other institutional investors own 34.28% of the company’s stock.

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.