Brokerages Set ProPetro Holding Corp. (NYSE:PUMP) Price Target at $12.33

ProPetro Holding Corp. (NYSE:PUMP) has been given a consensus rating of “Hold” by the nine research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $12.3333.

A number of research analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 8th. Wolfe Research upgraded shares of ProPetro to a “buy” rating and set a $13.00 price target for the company in a research report on Wednesday. Citigroup increased their price objective on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Barclays boosted their target price on shares of ProPetro from $5.00 to $10.00 and gave the company an “equal weight” rating in a research note on Monday, November 3rd. Finally, Piper Sandler upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 price target on the stock in a research note on Monday, November 3rd.

Insider Buying and Selling

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

Institutional Trading of ProPetro

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in ProPetro during the first quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of ProPetro during the 1st quarter valued at about $32,000. State of Wyoming acquired a new position in shares of ProPetro in the 1st quarter worth approximately $48,000. Trek Financial LLC bought a new stake in shares of ProPetro in the 3rd quarter worth approximately $57,000. Finally, Dark Forest Capital Management LP bought a new stake in shares of ProPetro in the 3rd quarter worth approximately $57,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Price Performance

PUMP opened at $10.25 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $8.74 and its 200 day moving average price is $6.65. ProPetro has a fifty-two week low of $4.51 and a fifty-two week high of $11.66. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -60.26 and a beta of 0.80.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company 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%.ProPetro’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.32) earnings per share. As a group, sell-side analysts expect that ProPetro will post 0.25 earnings per share for the current year.

About ProPetro

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.