Benchmark Initiates Coverage on ProPetro (NYSE:PUMP)

Research analysts at Benchmark started coverage on shares of ProPetro (NYSE:PUMPGet Rating) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set a “hold” rating on the stock.

A number of other brokerages have also weighed in on PUMP. Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a research report on Tuesday, January 10th. Citigroup lowered ProPetro from a “buy” rating to a “neutral” rating and set a $12.00 price target for the company. in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.82.

ProPetro Stock Up 0.8 %

Shares of ProPetro stock opened at $9.30 on Thursday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -30.00 and a beta of 2.37. The business has a 50-day moving average price of $10.31 and a 200-day moving average price of $9.77. ProPetro has a twelve month low of $7.25 and a twelve month high of $16.92.

ProPetro (NYSE:PUMPGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $333.01 million during the quarter, compared to analyst estimates of $339.10 million. ProPetro had a positive return on equity of 7.36% and a negative net margin of 2.65%. On average, equities analysts expect that ProPetro will post 1.23 EPS for the current fiscal year.

Institutional Trading of ProPetro

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in ProPetro by 8.8% in the third quarter. BlackRock Inc. now owns 17,847,360 shares of the company’s stock worth $143,672,000 after purchasing an additional 1,445,598 shares during the last quarter. Vanguard Group Inc. lifted its stake in ProPetro by 3.4% in the third quarter. Vanguard Group Inc. now owns 11,033,275 shares of the company’s stock worth $88,817,000 after purchasing an additional 361,312 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in ProPetro by 16.6% in the first quarter. Dimensional Fund Advisors LP now owns 5,002,856 shares of the company’s stock worth $69,691,000 after purchasing an additional 713,904 shares during the last quarter. State Street Corp raised its stake in shares of ProPetro by 7.9% during the third quarter. State Street Corp now owns 4,230,810 shares of the company’s stock valued at $34,058,000 after acquiring an additional 311,145 shares in the last quarter. Finally, FMR LLC raised its stake in shares of ProPetro by 69.1% during the second quarter. FMR LLC now owns 4,206,247 shares of the company’s stock valued at $42,062,000 after acquiring an additional 1,718,775 shares in the last quarter. Institutional investors own 88.58% of the company’s stock.

ProPetro Company Profile

(Get Rating)

ProPetro Holding Corp. is an oilfield services company that engages in the provision of hydraulic fracturing and other complementary services. It operates through the following segments: Hydraulic Fracturing, Cementing, Coil Tubing, Flowback, and Drilling. The Hydraulic Fracturing segment intends to optimize hydrocarbon flow paths during the completion phase of horizontal shale wellbores.

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