ProPetro Holding Corp. (NYSE:PUMP) Receives Consensus Rating of “Hold” from Analysts

Shares of ProPetro Holding Corp. (NYSE:PUMP) have been given an average rating of “Hold” by the five analysts that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $10.25.

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

Insider Activity

In other ProPetro news, CFO David Scott Schorlemer acquired 4,500 shares of the company’s stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $6.86 per share, with a total value of $30,870.00. Following the completion of the acquisition, the chief financial officer now directly owns 112,992 shares in the company, valued at $775,125.12. This trade represents a 4.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On ProPetro

Several large investors have recently modified their holdings of the business. Pacer Advisors Inc. grew its position in shares of ProPetro by 95.4% in the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock valued at $54,790,000 after purchasing an additional 3,491,723 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ProPetro by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company’s stock worth $61,515,000 after purchasing an additional 54,555 shares during the period. American Century Companies Inc. grew its holdings in ProPetro by 21.3% during the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock valued at $21,810,000 after buying an additional 441,644 shares in the last quarter. Encompass Capital Advisors LLC increased its position in shares of ProPetro by 2.4% during the second quarter. Encompass Capital Advisors LLC now owns 1,526,485 shares of the company’s stock valued at $13,235,000 after buying an additional 36,339 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of ProPetro by 2.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,088,880 shares of the company’s stock worth $8,341,000 after buying an additional 28,660 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

ProPetro Stock Up 18.0 %

ProPetro stock opened at $9.30 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $956.73 million, a PE ratio of -6.99 and a beta of 2.07. The firm’s fifty day moving average is $7.99 and its 200 day moving average is $8.23. ProPetro has a 12-month low of $6.53 and a 12-month high of $10.02.

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.