PROP
Prairie Operating Co.Financial Services·Financial - Capital Markets
$0.89
$40M market cap
Revenue
$166.4M
Free Cash Flow
$39.5M
Rev Growth
+0.0%
FCF Margin
23.7%
P/FCF
1.0x
EV/FCF
13.4x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Prairie Operating Co. engages in developing energy to meet growing demand, while protecting the environment. The company was formerly known as Creek Road Miners, Inc. and changed its name to Prairie Operating Co. in May 2023. Prairie Operating Co. is based in Oklahoma City, Oklahoma.
2-Year Price History
$0.95-92.9%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 83.4 | 42.2 | 26.3 | -174.4 | 42.3 | 8.2 | -34.1 | 0.3 | 488.9 | 80,585 | 21.5% | 5.2x | -- |
| Act | 2025-Q4 | 83.0 | 46.9 | 21.3 | -2.3 | 86.5 | 31.3 | -55.2 | 0.0 | 370.6 | 45,233 | 13.4% | 5.2x | -- |
Valuation & Metrics
Market Stats
Price$0.89
Market Cap$40M
Enterprise Value$529M
P/S Ratio0.2x
P/FCF1.0x
EV/FCF13.4x
FCF Margin (TTM)23.7%
FCF Yield97.8%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$166.4M
Net Income$-176.7M
Free Cash Flow$39.5M
Revenue Growth (YoY)+0.0%
EBITDA Margin53.5%
Net Margin-106.2%
FCF Margin23.7%
CapEx % of Revenue53.7%
SBC % of Revenue8.3%
ROIC17.4%
WC Change % Rev10.0%
Interest Coverage5.2x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares13.9M
Days to Cover4.2
Change (vs Prior)+37.5%
Need at least 2 settlement dates for chart
Employees
Headcount19
Revenue / Employee$8,759,316
Gross Profit / Employee$4,641,105
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
48.9%(+4.2% YoY)
104 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
29.1%(+4.1% YoY)
8 filers
Vanguard, iShares, SPDR
Market makers
14.1%(+13.9% YoY)
5 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $4.1M | $3.74 | +$488K | +$3.2M | -0.2% | $5.69T |
| Hudson Bay Capital Management LP | $3.1M | $2.57 | +$2.6M | +$2.6M | +1.9% | $15.12B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $3.1M | $2.03 | +$3.1M | +$3.1M | — | $4.04T |
| Arax Advisory Partners | $2.8M | $2.03 | +$2.8M | +$2.8M | -1.5% | $3.53B |
| SUSQUEHANNA INTERNATIONAL GROUP, LLPMM | $2.8M | $2.11 | +$2.2M | +$2.8M | -0.6% | $77.14B |
| CastleKnight Management LP | $2.2M | $2.03 | +$2.2M | +$2.2M | +1.2% | $2.13B |
| JANE STREET GROUP, LLCMM | $1.9M | $2.05 | +$1.5M | +$1.9M | -0.1% | $92.10B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $1.8M | $4.57 | +$221K | +$1.0M | +2.3% | $1.61T |
| STATE STREET CORPPassive | $1.2M | $3.38 | +$567K | +$947K | -0.2% | $2.89T |
| GOLDMAN SACHS GROUP INC | $1.1M | $2.11 | +$845K | +$1.1M | -0.2% | $760.93B |
| Diametric Capital, LP | $978K | $2.03 | +$978K | +$978K | +1.1% | $381M |
| MORGAN STANLEY | $919K | $2.36 | +$534K | +$904K | -0.3% | $1.65T |
| GROUP ONE TRADING LLCMM | $875K | $2.01 | +$776K | +$875K | -1.6% | $3.02B |
| SIMPLEX TRADING, LLC | $618K | $2.04 | +$616K | +$615K | +2.5% | $3.23B |
| UBS Group AG | $607K | $3.48 | −$253K | +$429K | -0.3% | $562.11B |
| NORTHERN TRUST CORPPassive | $487K | $4.09 | +$19K | +$358K | -0.2% | $755.34B |
| VANGUARD FIDUCIARY TRUST COPassive | $481K | $2.03 | +$481K | +$481K | — | $395.83B |
| AQR CAPITAL MANAGEMENT LLC | $452K | $2.01 | +$423K | +$452K | -0.2% | $218.19B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $404K | $2.03 | +$404K | +$404K | — | $1.91T |
| Caitong International Asset Management Co., Ltd | $397K | $1.85 | +$161K | +$397K | +1.3% | $540M |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
+0.31%
avg per quarter
Holders (ex-self)
+0.31%
excl. this stock
Buyers (this Q)
+0.39%
73 buyers · $0.02B in
Sellers (this Q)
-1.71%
19 sellers · $0.00B out
alpha coverage: 89% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+19.8%
how holders react when this stock falls
On quiet Qs
+44.9%
−10% to +10% baseline
On rallies (+10%+)
+30.5%
how they react when this stock rises
Holders' portfolio flow this Q
+6.7%
inflows — adds are organic
Sellers' portfolio flow this Q
+12.4%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-3.0%
Holder mid (any stock)
-6.0%
Holder rally (any stock)
-9.5%
Biggest decreases this quarter
LAZARD ASSET MANAGEMENT LLC−$1.6Mα-0.3Quadrature Capital Ltdexited−$312KUBS Group AG−$253Kα-0.3Aristides Capital LLCexited−$135KMAGNOLIA CAPITAL ADVISORS LLCexited−$106KSquarepoint Ops LLCexited−$82KSTIFEL FINANCIAL CORPexited−$47KStoneX Group Inc.exited−$32KWarther Private Wealth, LLCexited−$26KEngineers Gate Manager LPexited−$25K
New buyers this quarter
Top-5 holders · 43.6%
BlackRock, Inc.--
Hudson Bay Capital Management LP--
VANGUARD CAPITAL MANAGEMENT LLC--
Arax Advisory Partners--
SUSQUEHANNA INTERNATIONAL GROUP, LLP--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
CITADEL ADVISORS LLC56KWoodline Partners LP—Hudson Bay Capital Management LP1.5MHodges Capital Management Inc.—Arax Advisory Partners1.4MCastleKnight Management LP1.1MLAZARD ASSET MANAGEMENT LLC159KMARSHALL WACE, LLP—Geller Family Office Services, LLC—Nuveen, LLC37K
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (1 analysts)$3.5029210.0%
Last Year (2 analysts)$2.7520810.0%
Current Price$0.89
Analyst Ratings
1
Hold: 1Consensus: Hold
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$1.24M
19 txns · 9 insiders · 594,155 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$5.85M
17 txns · 1 insider · 3,441,989 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-19 | BUY | Frommer Richard N. | director | 75,500 | $0.87 | $66K | $179K |
| 2026-05-19 | BUY | Sweeney Daniel T. | officer: EVP, GC and Corp. Sec. | 15,925 | $0.89 | $14K | $504K |
| 2025-12-29 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 210,981 | $1.61 | $340K | $24.93M |
| 2025-12-24 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 50,000 | $1.68 | $84K | $25.65M |
| 2025-12-19 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 33,825 | $1.68 | $57K | $25.57M |
| 2025-12-18 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 36,701 | $1.68 | $62K | $25.51M |
| 2025-12-17 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 70,795 | $1.68 | $119K | $25.45M |
| 2025-12-16 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 86,022 | $1.68 | $144K | $25.33M |
| 2025-12-15 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 850,000 | $1.69 | $1.43M | $25.29M |
| 2025-12-12 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 270,431 | $1.71 | $462K | $24.17M |
| 2025-12-10 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 42,781 | $1.71 | $73K | $23.72M |
| 2025-12-09 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 200 | $1.71 | $342 | $23.65M |
| 2025-11-24 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 3,831 | $1.70 | $7K | $23.43M |
| 2025-11-21 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 236,977 | $1.69 | $400K | $23.25M |
| 2025-11-20 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 850,000 | $1.71 | $1.45M | $23.61M |
| 2025-11-19 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 199,271 | $1.72 | $343K | $21.90M |
| 2025-11-18 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 131,814 | $1.75 | $230K | $21.89M |
| 2025-11-17 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 168,897 | $1.75 | $295K | $21.68M |
| 2025-11-14 | BUY | Narrogal Nominees Pty Ltd ATF Gregory K O'Neill Family Trust | 10 percent owner | 199,463 | $1.73 | $346K | $21.21M |
| 2025-09-05 | BUY | Gray Jonathan H. | director | 89,000 | $2.11 | $188K | $1.43M |
Order Flow (FINRA, ~3w lag)
51.6%retail+3.9pp
18.3%dark+1.9pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Prairie Operating Co.: A high-leverage DJ Basin pivot masked by toxic financing and extreme mezzanine dilution.
Overall Risk
8/10
Fraud
4/10
Dilution
10/10
Insolvency
6/10
Earnings Overstated
5/10
Hidden Liabilities
7/10
Legal
3/10
Audit Warnings
5/10
Hidden Upside
4/10
Contextually Acceptable
3/10