ProPetro Holding Corp. (NYSE:PUMP) Receives $6.80 Consensus Price Target from Brokerages

Shares of ProPetro Holding Corp. (NYSE:PUMP) have been assigned a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $6.80.

A number of equities research analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of ProPetro from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Barclays reissued an “equal weight” rating and issued a $5.00 target price (down previously from $6.00) on shares of ProPetro in a research note on Monday, October 13th. Zacks Research raised shares of ProPetro from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. Stifel Nicolaus set a $10.00 target price on shares of ProPetro and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, Citigroup increased their target price on shares of ProPetro from $5.00 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, October 8th.

ProPetro Price Performance

ProPetro stock opened at $7.18 on Thursday. The company has a market cap of $746.61 million, a price-to-earnings ratio of -4.89 and a beta of 1.00. The firm’s fifty day moving average is $5.19 and its 200 day moving average is $5.51. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.07. ProPetro has a 52-week low of $4.51 and a 52-week high of $11.17.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The business had revenue of $326.15 million for the quarter, compared to analysts’ expectations of $331.26 million. ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. ProPetro’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) EPS. Sell-side analysts forecast that ProPetro will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its holdings in shares of ProPetro by 3.5% in the 1st quarter. Hsbc Holdings PLC now owns 49,858 shares of the company’s stock valued at $371,000 after buying an additional 1,675 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in ProPetro by 1.2% in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in ProPetro by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock worth $379,000 after purchasing an additional 2,230 shares in the last quarter. Franklin Resources Inc. boosted its stake in ProPetro by 4.4% in the 2nd quarter. Franklin Resources Inc. now owns 56,941 shares of the company’s stock worth $340,000 after purchasing an additional 2,418 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in ProPetro by 2.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 99,361 shares of the company’s stock worth $593,000 after purchasing an additional 2,789 shares in the last quarter. Hedge funds and other 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.