Stifel Nicolaus Cuts ProPetro (NYSE:PUMP) Price Target to $11.00

ProPetro (NYSE:PUMP) had its target price reduced by Stifel Nicolaus from $12.00 to $11.00 in a research note released on Wednesday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other brokerages have also weighed in on PUMP. Citigroup upped their target price on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Barclays decreased their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Benchmark reissued a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.50.

ProPetro Stock Performance

NYSE:PUMP opened at $5.51 on Wednesday. The stock has a market capitalization of $571.85 million, a P/E ratio of -4.11 and a beta of 1.58. ProPetro has a 1 year low of $4.61 and a 1 year high of $11.17. The firm has a 50 day moving average of $6.38 and a 200-day moving average of $7.98. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. ProPetro had a positive return on equity of 3.20% and a negative net margin of 9.55%. The firm had revenue of $359.42 million during the quarter, compared to analyst estimates of $344.36 million. During the same period last year, the company earned $0.18 earnings per share. The company’s revenue was down 11.4% on a year-over-year basis. As a group, sell-side analysts anticipate that ProPetro will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PUMP. Smartleaf Asset Management LLC boosted its position in shares of ProPetro by 205.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after acquiring an additional 2,005 shares during the period. GAMMA Investing LLC raised its stake in ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after purchasing an additional 1,225 shares in the last quarter. KBC Group NV grew its position in shares of ProPetro by 90.5% during the 4th quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after purchasing an additional 3,821 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of ProPetro during the first quarter worth approximately $89,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of ProPetro in the fourth quarter valued at approximately $94,000. 84.70% of the stock is owned by institutional investors and hedge funds.

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.