ProPetro Holding Corp. (NYSE:PUMP – Get Free Report) shares rose 8.3% on Tuesday . The company traded as high as $5.87 and last traded at $5.87. Approximately 409,580 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,559,044 shares. The stock had previously closed at $5.42.
Analysts Set New Price Targets
PUMP has been the topic of several research reports. Barclays decreased their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. decreased their target price on shares of ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Stifel Nicolaus lowered their price target on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Three equities research 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 has an average rating of “Hold” and a consensus price target of $9.75.
Get Our Latest Analysis on ProPetro
ProPetro Trading Up 9.6%
ProPetro (NYSE:PUMP – Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating 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 firm 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 earned $0.18 earnings per share. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. Analysts predict that ProPetro Holding Corp. will post 0.25 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of PUMP. Barclays PLC raised its position in shares of ProPetro by 109.2% during the third quarter. Barclays PLC now owns 242,057 shares of the company’s stock worth $1,855,000 after acquiring an additional 126,346 shares during the last quarter. KBC Group NV increased its position in ProPetro by 90.5% during the 4th quarter. KBC Group NV now owns 8,045 shares of the company’s stock valued at $75,000 after purchasing an additional 3,821 shares during the period. Empowered Funds LLC increased its position in ProPetro by 5.1% during the 4th quarter. Empowered Funds LLC now owns 554,873 shares of the company’s stock valued at $5,177,000 after purchasing an additional 27,086 shares during the period. Van ECK Associates Corp raised its holdings in ProPetro by 57.3% during the 4th quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock worth $14,253,000 after purchasing an additional 556,747 shares during the last quarter. Finally, Stanley Laman Group Ltd. lifted its position in shares of ProPetro by 2.7% in the 4th quarter. Stanley Laman Group Ltd. now owns 458,425 shares of the company’s stock worth $4,277,000 after purchasing an additional 12,191 shares during the period. 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.
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