Analysts Set ProPetro Holding Corp. (NYSE:PUMP) Target Price at $10.25

ProPetro Holding Corp. (NYSE:PUMP) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $10.25.

A number of brokerages have commented on PUMP. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a research note on Friday, December 6th. Stifel Nicolaus dropped their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Barclays reduced their target price on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Citigroup dropped their price target on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st.

Insiders Place Their Bets

In other news, CFO David Scott Schorlemer bought 4,500 shares of the business’s stock in a transaction on Monday, November 4th. The stock was purchased at an average price of $6.86 per share, with a total value of $30,870.00. Following the transaction, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $775,125.12. The trade was a 4.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On ProPetro

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after buying an additional 1,225 shares during the last quarter. CWM LLC grew its stake in shares of ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after acquiring an additional 1,267 shares during the last quarter. Victory Capital Management Inc. increased its position in ProPetro by 1.8% during the second quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock worth $970,000 after acquiring an additional 1,990 shares during the period. The Manufacturers Life Insurance Company raised its stake in ProPetro by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,392 shares of the company’s stock valued at $324,000 after purchasing an additional 2,257 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in ProPetro by 8.9% during the 2nd quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock valued at $259,000 after purchasing an additional 2,446 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

ProPetro Stock Performance

NYSE PUMP opened at $9.87 on Tuesday. ProPetro has a 1-year low of $6.53 and a 1-year high of $10.06. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.02 billion, a PE ratio of -7.42 and a beta of 2.07. The firm’s fifty day simple moving average is $8.41 and its 200-day simple moving average is $8.26.

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.