Brokerages Set ProPetro Holding Corp. (NYSE:PUMP) PT at $16.62

ProPetro Holding Corp. (NYSE:PUMP) has received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.25.

A number of analysts have commented on the stock. Stifel Nicolaus set a $23.00 target price on shares of ProPetro in a report on Thursday. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 price target on shares of ProPetro in a research note on Wednesday, June 3rd. Bank of America started coverage on ProPetro in a research report on Monday, March 30th. They issued a “buy” rating and a $18.00 price target on the stock. Citigroup upped their price objective on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Odeon Capital Group assumed coverage on ProPetro in a research note on Thursday, May 28th. They issued a “buy” rating on the stock.

Institutional Trading of ProPetro

Hedge funds have recently modified their holdings of the company. Valiant Capital Management L.P. acquired a new position in ProPetro during the fourth quarter valued at approximately $34,890,000. Sourcerock Group LLC raised its holdings in ProPetro by 66.4% in the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after purchasing an additional 3,355,848 shares during the period. Cooper Creek Partners Management LLC acquired a new stake in ProPetro in the first quarter worth $42,748,000. VR Advisory Services Ltd boosted its position in shares of ProPetro by 213.2% during the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after purchasing an additional 2,504,634 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of ProPetro by 209.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock worth $14,170,000 after purchasing an additional 1,830,399 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Trading Down 2.5%

ProPetro stock traded down $0.30 during trading hours on Tuesday, reaching $11.98. 1,367,547 shares of the company’s stock traded hands, compared to its average volume of 4,008,213. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -108.82 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.64. ProPetro has a fifty-two week low of $4.51 and a fifty-two week high of $18.50. The firm’s 50 day moving average is $15.64 and its 200-day moving average is $13.29.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.09. The company had revenue of $270.69 million during the quarter, compared to analysts’ expectations of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. ProPetro’s revenue was down 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 EPS. On average, analysts predict that ProPetro will post -0.08 earnings per share 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.