ProPetro (NYSE:PUMP) Price Target Lowered to $7.00 at JPMorgan Chase & Co.

ProPetro (NYSE:PUMP) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $8.00 to $7.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 26.45% from the stock’s current price.

A number of other analysts have also commented on PUMP. Stifel Nicolaus decreased their price target on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Barclays reduced their target price on ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Finally, Benchmark reaffirmed 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 issued a buy rating to the company’s stock. According to MarketBeat, ProPetro presently has an average rating of “Hold” and a consensus price target of $9.75.

ProPetro Trading Down 2.2%

Shares of PUMP traded down $0.12 during trading hours on Wednesday, hitting $5.54. 223,989 shares of the stock were exchanged, compared to its average volume of 1,710,938. The business has a 50-day moving average of $5.79 and a 200-day moving average of $7.75. ProPetro has a fifty-two week low of $4.61 and a fifty-two week high of $11.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. The firm has a market capitalization of $575.25 million, a P/E ratio of -4.13 and a beta of 1.19.

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

Institutional Investors Weigh In On ProPetro

A number of hedge funds and other institutional investors have recently bought and sold shares of PUMP. MetLife Investment Management LLC increased its position in shares of ProPetro by 2.5% during the fourth quarter. MetLife Investment Management LLC now owns 52,933 shares of the company’s stock valued at $494,000 after buying an additional 1,270 shares during the period. Corient Private Wealth LLC raised its holdings in shares of ProPetro by 8.7% in the 4th quarter. Corient Private Wealth LLC now owns 17,591 shares of the company’s stock valued at $164,000 after acquiring an additional 1,405 shares in the last quarter. Ieq Capital LLC grew its holdings in shares of ProPetro by 13.0% during the fourth quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock worth $127,000 after purchasing an additional 1,564 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of ProPetro by 3.5% in the 1st quarter. Hsbc Holdings PLC now owns 49,858 shares of the company’s stock worth $371,000 after buying an additional 1,675 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in ProPetro by 205.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after purchasing an additional 2,005 shares in the last quarter. Institutional investors 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.