ProPetro Holding Corp. (NYSE:PUMP) Stock Has Consensus Price Target of $15.25

Shares of ProPetro Holding Corp. (NYSE:PUMP) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $15.25.

A number of research analysts have recently commented on the company. Barclays lowered their target price on ProPetro from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Morgan Stanley initiated coverage on ProPetro in a research note on Monday, September 14th. They issued an “equal weight” rating and a $13.00 price target on the stock. Scotiabank initiated coverage on ProPetro in a report on Tuesday, September 29th. They issued a “sector perform” rating and a $12.00 price objective for the company. Stifel Nicolaus lowered their price objective on ProPetro from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Finally, Weiss Ratings cut shares of ProPetro from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 29th.

Insider Activity

In related news, Director G Lawrence sold 35,831 shares of ProPetro stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total transaction of $399,873.96. Following the completion of the transaction, the director directly owned 28,181 shares of the company’s stock, valued at $314,499.96. This trade represents a 55.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Adam Muñoz sold 70,696 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total transaction of $789,674.32. Following the sale, the chief operating officer directly owned 148,691 shares in the company, valued at $1,660,878.47. The trade was a 32.22% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On ProPetro

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of ProPetro in the 2nd quarter worth approximately $130,574,000. Dimensional Fund Advisors LP raised its stake in ProPetro by 14.7% during the first quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock valued at $93,408,000 after buying an additional 831,823 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in ProPetro by 10.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,449,379 shares of the company’s stock valued at $49,706,000 after buying an additional 316,022 shares during the last quarter. Cooper Creek Partners Management LLC bought a new stake in ProPetro in the first quarter worth $42,748,000. Finally, Wellington Management Group LLP boosted its holdings in ProPetro by 882.3% in the second quarter. Wellington Management Group LLP now owns 2,290,361 shares of the company’s stock worth $32,844,000 after acquiring an additional 2,057,195 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Performance

Shares of PUMP opened at $9.08 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.09 and a quick ratio of 4.00. ProPetro has a one year low of $4.87 and a one year high of $18.50. The company has a 50-day simple moving average of $10.72 and a two-hundred day simple moving average of $13.27. The firm has a market capitalization of $1.11 billion, a PE ratio of -82.51 and a beta of 0.86.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.06). ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The firm had revenue of $305.81 million for the quarter, compared to the consensus estimate of $304.48 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. On average, analysts anticipate that ProPetro will post -0.11 EPS for the current fiscal year.

About ProPetro

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to exploration and production companies. Through its operating subsidiaries, the company primarily supports the development of unconventional oil and natural gas wells.

ProPetro’s services include hydraulic fracturing, well stimulation, wireline services and related completion activities. Its hydraulic fracturing operations use fleets of high-pressure pumping equipment to help operators complete wells, while its wireline business supports well intervention, evaluation and perforating activities.

Headquartered in Midland, Texas, ProPetro primarily serves customers operating in the Permian Basin of West Texas and southeastern New Mexico, one of the largest U.S.