We report a detailed study of the electrical transport properties of single crystals of Pr$_4$Fe$_2$As$_2$Te$_{1-x}$O$_4$, a recently discovered iron-based superconductor. Resistivity, Hall effect and magnetoresistance are measured in a broad temperature range revealing the role of electrons as dominant charge carriers. The significant temperature dependence of the Hall coefficient and the violation of Kohlers law indicate multiband effects in this compound. The upper critical field and the magnetic anisotropy are investigated in fields up to 16 T, applied parallel and perpendicular to the crystallographic c-axis. Hydrostatic pressure up to 2 GPa linearly increases the critical temperature and the resistivity residual ratio. A simple two-band model is used to describe the transport and magnetic properties of Pr$_4$Fe$_2$As$_2$Te$_{1-x}$O$_4$. The model can successfully explain the strongly temperature dependent negative Hall coefficient and the high magnetic anisotropy assuming that the mobility of electrons is higher than that of holes.
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