Benchmark Reaffirms “Hold” Rating for ProPetro (NYSE:PUMP)

Benchmark reaffirmed their hold rating on shares of ProPetro (NYSE:PUMP) in a research note issued to investors on Thursday,Benzinga reports.

A number of other brokerages have also issued reports on PUMP. Citigroup raised their target price on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, ProPetro presently has an average rating of “Hold” and an average price target of $10.75.

ProPetro Trading Up 2.4 %

NYSE PUMP opened at $9.04 on Thursday. ProPetro has a 12-month low of $6.53 and a 12-month high of $11.17. The company has a fifty day simple moving average of $9.50 and a two-hundred day simple moving average of $8.52. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On ProPetro

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its holdings in ProPetro by 38.0% during the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after acquiring an additional 1,225 shares during the period. CWM LLC boosted its position in ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after purchasing an additional 1,267 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of ProPetro by 2.5% during the 4th quarter. MetLife Investment Management LLC now owns 52,933 shares of the company’s stock worth $494,000 after purchasing an additional 1,270 shares during the period. Corient Private Wealth LLC increased its holdings in shares of ProPetro by 8.7% during the 4th quarter. Corient Private Wealth LLC now owns 17,591 shares of the company’s stock valued at $164,000 after purchasing an additional 1,405 shares in the last quarter. Finally, Ieq Capital LLC lifted its stake in shares of ProPetro by 13.0% in the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock valued at $127,000 after purchasing an additional 1,564 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

About ProPetro

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.