ProPetro (NYSE:PUMP) Price Target Lowered to $11.00 at Stifel Nicolaus

ProPetro (NYSE:PUMP) had its target price trimmed by Stifel Nicolaus from $12.00 to $11.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

ProPetro Price Performance

Shares of PUMP opened at $8.38 on Friday. The business’s 50-day moving average is $7.98 and its two-hundred day moving average is $8.50. The company has a market capitalization of $872.86 million, a P/E ratio of 27.93 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.11. ProPetro has a fifty-two week low of $6.74 and a fifty-two week high of $11.37.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). ProPetro had a return on equity of 3.39% and a net margin of 2.21%. The firm had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $361.85 million. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s revenue was down 17.9% compared to the same quarter last year. Research analysts predict that ProPetro will post 0.24 earnings per share for the current year.

Insider Activity at ProPetro

In other ProPetro news, Director Michele Vion sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $8.26, for a total value of $41,300.00. Following the transaction, the director now directly owns 34,006 shares of the company’s stock, valued at $280,889.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Institutional Trading of ProPetro

A number of hedge funds and other institutional investors have recently made changes to their positions in PUMP. Pacer Advisors Inc. acquired a new stake in shares of ProPetro during the 2nd quarter worth approximately $31,741,000. Dana Investment Advisors Inc. acquired a new stake in ProPetro in the 2nd quarter valued at approximately $6,439,000. American Century Companies Inc. increased its holdings in ProPetro by 21.3% in the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock valued at $21,810,000 after purchasing an additional 441,644 shares during the last quarter. Hartree Partners LP acquired a new stake in ProPetro in the 1st quarter valued at approximately $3,259,000. Finally, Susquehanna Fundamental Investments LLC increased its holdings in ProPetro by 441.7% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 303,971 shares of the company’s stock valued at $2,635,000 after purchasing an additional 247,860 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Company Profile

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.