ProPetro (NYSE:PUMP) Price Target Raised to $14.00 at Barclays

ProPetro (NYSE:PUMP) had its price target raised by equities research analysts at Barclays from $12.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 0.70% from the company’s current price.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $7.00 to $13.00 in a research report on Wednesday, December 10th. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday, December 10th. Piper Sandler boosted their target price on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Finally, Bank of America started coverage on ProPetro in a research report on Monday, March 30th. They issued a “buy” rating and a $18.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.86.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $14.10 on Thursday. ProPetro has a fifty-two week low of $4.51 and a fifty-two week high of $15.49. The business has a 50-day simple moving average of $12.81 and a two-hundred day simple moving average of $10.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.29. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 1,405.80 and a beta of 0.62.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The business had revenue of $289.68 million during the quarter, compared to analyst estimates of $279.90 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. ProPetro’s revenue was down 9.6% on a year-over-year basis. On average, analysts expect that ProPetro will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC boosted its position in ProPetro by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock worth $139,000 after purchasing an additional 944 shares during the last quarter. FourThought Financial Partners LLC lifted its position in shares of ProPetro by 3.1% during the 4th quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock valued at $578,000 after buying an additional 1,840 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of ProPetro by 1.2% during the 3rd quarter. Mutual Advisors LLC now owns 164,822 shares of the company’s stock valued at $864,000 after buying an additional 2,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ProPetro by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock valued at $379,000 after buying an additional 2,230 shares in the last quarter. Finally, Profund Advisors LLC lifted its position in shares of ProPetro by 14.2% during the 3rd quarter. Profund Advisors LLC now owns 18,958 shares of the company’s stock valued at $99,000 after buying an additional 2,355 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other 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.