Brokerages Set ProPetro Holding Corp. (NYSE:PUMP) Target Price at $12.50

ProPetro Holding Corp. (NYSE:PUMP) has received an average recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $12.50.

A number of equities research analysts have commented on the company. Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, December 10th. Zacks Research upgraded ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Barclays reissued a “neutral” rating on shares of ProPetro in a research report on Wednesday, December 17th. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Finally, Citigroup increased their price objective 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.

Insider Transactions at ProPetro

In related news, Director Michele Vion sold 6,916 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $10.64, for a total transaction of $73,586.24. Following the sale, the director owned 45,029 shares in the company, valued at $479,108.56. This represents a 13.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Larry Lawrence sold 27,000 shares of ProPetro 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 completion of the sale, the director 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. The SEC filing for this sale provides additional information. Company insiders own 1.60% of the company’s stock.

Institutional Trading of ProPetro

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in shares of ProPetro by 53.1% during the 4th quarter. SG Americas Securities LLC now owns 52,599 shares of the company’s stock valued at $500,000 after acquiring an additional 18,251 shares during the period. JPMorgan Chase & Co. increased its stake in ProPetro by 103.4% in the third quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock valued at $8,636,000 after purchasing an additional 837,776 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in ProPetro in the third quarter valued at $2,280,000. Hudson Bay Capital Management LP acquired a new position in shares of ProPetro during the third quarter valued at about $124,000. Finally, Dark Forest Capital Management LP bought a new position in shares of ProPetro during the 3rd quarter worth about $57,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Price Performance

PUMP stock opened at $9.41 on Tuesday. The company has a market capitalization of $978.66 million, a P/E ratio of -55.36 and a beta of 0.75. The company has a fifty day moving average price of $9.87 and a 200-day moving average price of $7.14. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.19 and a current ratio of 1.26. ProPetro has a 52-week low of $4.51 and a 52-week high of $11.66.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.09. The company had revenue of $293.92 million for the quarter, compared to analysts’ expectations of $266.25 million. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. ProPetro’s revenue for the quarter was down 18.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.32) earnings per share. As a group, equities analysts expect that ProPetro will post 0.25 EPS for the current year.

ProPetro Company Profile

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.