ProPetro (NYSE:PUMP) Price Target Raised to $11.00

ProPetro (NYSE:PUMP) had its price target hoisted by Barclays from $10.00 to $11.00 in a report published on Wednesday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also recently weighed in on PUMP. JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and increased their price target for the company from $7.00 to $13.00 in a research note on Wednesday, December 10th. Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a report on Monday. Citigroup boosted their price target on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Finally, Zacks Research raised shares of ProPetro from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, ProPetro currently has a consensus rating of “Hold” and a consensus target price of $12.50.

ProPetro Trading Up 0.7%

Shares of ProPetro stock opened at $9.11 on Wednesday. The firm’s 50 day moving average is $9.14 and its 200 day moving average is $6.77. The firm has a market capitalization of $947.26 million, a PE ratio of -53.59 and a beta of 0.80. ProPetro has a 1 year low of $4.51 and a 1 year high of $11.66. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.09. The firm had revenue of $293.92 million during the quarter, compared to the consensus estimate of $266.25 million. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The business’s quarterly revenue was down 18.6% on a year-over-year basis. During the same period last year, the company earned ($1.32) earnings per share. Equities research analysts forecast that ProPetro will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling at ProPetro

In other ProPetro news, Director Michele Vion sold 6,916 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $10.64, for a total value of $73,586.24. Following the transaction, the director directly owned 45,029 shares of the company’s stock, valued at approximately $479,108.56. This trade represents a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Larry Lawrence sold 27,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $10.84, for a total transaction of $292,680.00. Following the sale, the director directly owned 35,831 shares of the company’s stock, valued at approximately $388,408.04. The trade was a 42.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of ProPetro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of ProPetro in the first quarter valued at approximately $25,000. State of Wyoming bought a new position in ProPetro during the 1st quarter valued at $48,000. Trek Financial LLC bought a new position in ProPetro during the 3rd quarter valued at $57,000. Dark Forest Capital Management LP purchased a new position in ProPetro during the 3rd quarter worth $57,000. Finally, MQS Management LLC bought a new stake in shares of ProPetro in the 3rd quarter worth $58,000. 84.70% of the stock is owned by institutional investors.

About ProPetro

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.