ProPetro Holding Corp. (NYSE:PUMP) Receives $10.25 Average Price Target from Analysts

Shares of ProPetro Holding Corp. (NYSE:PUMP) have received an average recommendation of “Hold” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $10.25.

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

Insider Transactions at ProPetro

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

Institutional Trading of ProPetro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of ProPetro by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 780,498 shares of the company’s stock valued at $6,767,000 after buying an additional 14,144 shares during the last quarter. Chilton Capital Management LLC lifted its stake in shares of ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after acquiring an additional 4,000 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in ProPetro by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock valued at $970,000 after acquiring an additional 1,990 shares during the period. Arizona State Retirement System grew its position in ProPetro by 12.6% in the 2nd quarter. Arizona State Retirement System now owns 25,596 shares of the company’s stock valued at $222,000 after acquiring an additional 2,874 shares during the last quarter. Finally, LSV Asset Management increased its stake in ProPetro by 28.2% in the second quarter. LSV Asset Management now owns 59,500 shares of the company’s stock worth $516,000 after purchasing an additional 13,100 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $9.83 on Tuesday. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -7.39 and a beta of 2.00. The firm has a fifty day moving average price of $8.46 and a 200 day moving average price of $8.27. ProPetro has a fifty-two week low of $6.53 and a fifty-two week high of $10.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20.

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.