Barclays Increases ProPetro (NYSE:PUMP) Price Target to $13.00

ProPetro (NYSE:PUMP) had its target price boosted by analysts at Barclays from $12.00 to $13.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 37.28% from the stock’s previous close.

PUMP has been the topic of several other reports. Benchmark restated a “hold” rating on shares of ProPetro in a research report on Thursday, May 2nd. TheStreet downgraded ProPetro from a “b-” rating to a “c+” rating in a research report on Monday, January 8th. Two investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.33.

ProPetro Price Performance

Shares of ProPetro stock opened at $9.47 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.12 and a current ratio of 1.18. The stock’s fifty day moving average is $8.14 and its 200 day moving average is $8.46. The stock has a market cap of $1.01 billion, a P/E ratio of 14.13 and a beta of 2.09. ProPetro has a one year low of $6.47 and a one year high of $11.37.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The company had revenue of $405.84 million during the quarter, compared to the consensus estimate of $393.11 million. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue was down 4.2% on a year-over-year basis. Sell-side analysts anticipate that ProPetro will post 0.56 earnings per share for the current year.

Insider Activity at ProPetro

In other ProPetro news, COO Adam Munoz sold 42,573 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total value of $395,077.44. Following the sale, the chief operating officer now owns 58,134 shares in the company, valued at approximately $539,483.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Institutional Trading of ProPetro

A number of large investors have recently added to or reduced their stakes in PUMP. Kennedy Capital Management LLC purchased a new position in shares of ProPetro in the third quarter valued at $7,492,000. First Dallas Securities Inc. bought a new position in ProPetro during the third quarter valued at $4,933,000. Hartree Partners LP purchased a new position in shares of ProPetro in the 1st quarter worth $3,259,000. Dimensional Fund Advisors LP increased its holdings in shares of ProPetro by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock worth $61,120,000 after buying an additional 378,379 shares during the last quarter. Finally, Lisanti Capital Growth LLC purchased a new stake in shares of ProPetro during the 3rd quarter valued at about $2,853,000. Institutional investors own 84.70% of the company’s stock.

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.