ProPetro (NYSE:PUMP) Price Target Raised to $13.00

ProPetro (NYSE:PUMP) had its price target increased by Barclays from $12.00 to $13.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently issued reports on the stock. Benchmark restated a hold rating on shares of ProPetro in a report on Thursday, May 2nd. TheStreet downgraded shares of ProPetro from a b- rating to a c+ rating in a research note on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $13.33.

ProPetro Stock Performance

NYSE:PUMP opened at $9.47 on Monday. The firm has a market capitalization of $1.01 billion, a PE ratio of 14.13 and a beta of 2.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.18 and a quick ratio of 1.12. The business’s fifty day moving average price is $8.19 and its 200 day moving average price is $8.47. ProPetro has a 12 month low of $6.47 and a 12 month high of $11.37.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.10. The business had revenue of $405.84 million for the quarter, compared to analyst estimates of $393.11 million. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The business’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. On average, sell-side analysts anticipate that ProPetro will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Adam Munoz sold 42,573 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total transaction of $395,077.44. Following the completion of the sale, the chief operating officer now owns 58,134 shares in the company, valued at approximately $539,483.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.97% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its position in ProPetro by 47.1% in the 4th quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after buying an additional 2,542 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of ProPetro in the fourth quarter valued at about $90,000. 9258 Wealth Management LLC acquired a new position in shares of ProPetro during the first quarter worth about $100,000. Quadrant Capital Group LLC raised its holdings in ProPetro by 60.0% during the fourth quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company’s stock worth $102,000 after purchasing an additional 4,550 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in ProPetro in the 4th quarter valued at approximately $102,000. 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.