ProPetro Holding Corp. (NYSE:PUMP) Receives $11.00 Consensus PT from Analysts

Shares of ProPetro Holding Corp. (NYSE:PUMP) have been given an average rating of “Hold” by the eight ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $11.00.

PUMP has been the subject of several research analyst reports. Barclays increased their price objective on ProPetro from $5.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday, November 3rd. Zacks Research raised shares of ProPetro from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Citigroup upped their target price on shares of ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Piper Sandler upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 target price for the company in a research note on Monday, November 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a report on Thursday, November 13th.

Insider Buying and Selling

In related news, Director G Larry Lawrence sold 27,000 shares of ProPetro stock in a transaction on Friday, October 31st. The shares were sold at an average price of $10.84, for a total value of $292,680.00. Following the transaction, 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 filing with the SEC, which is available at the SEC website. Also, Director Michele Vion sold 6,916 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $10.64, for a total transaction of $73,586.24. Following the completion of the transaction, the director directly owned 45,029 shares in the company, valued at $479,108.56. This represents a 13.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC raised its holdings in ProPetro by 3.5% during the first quarter. Hsbc Holdings PLC now owns 49,858 shares of the company’s stock worth $371,000 after purchasing an additional 1,675 shares in the last quarter. Nisa Investment Advisors LLC increased its position in ProPetro by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 163,394 shares of the company’s stock worth $975,000 after purchasing an additional 1,990 shares during the period. Mutual Advisors LLC raised its stake in shares of ProPetro by 1.2% during the 3rd quarter. Mutual Advisors LLC now owns 164,822 shares of the company’s stock worth $864,000 after buying an additional 2,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ProPetro by 4.5% in 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 during the period. Finally, Profund Advisors LLC lifted its holdings in shares of ProPetro by 14.2% in 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 during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Stock Performance

Shares of PUMP stock opened at $9.68 on Monday. The stock’s 50-day moving average is $7.03 and its two-hundred day moving average is $6.11. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.35 and a current ratio of 1.26. ProPetro has a 1 year low of $4.51 and a 1 year high of $11.66. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -56.96 and a beta of 1.07.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.09. The business 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%.The business’s quarterly revenue was down 18.6% on a year-over-year basis. During the same period in the previous year, the business earned ($1.32) EPS. Analysts predict that ProPetro will post 0.25 earnings per share for the current year.

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.