ProPetro Holding Corp. (NYSE:PUMP) Given Average Recommendation of “Hold” by Brokerages

ProPetro Holding Corp. (NYSE:PUMP) has received an average rating of “Hold” from the five analysts that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $10.25.

A number of research firms have recently weighed in on PUMP. Stifel Nicolaus cut their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Citigroup reduced their price objective on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a report on Friday, December 6th. Finally, Barclays cut their price target on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th.

ProPetro Trading Up 18.0 %

Shares of ProPetro stock opened at $9.30 on Friday. ProPetro has a 52-week low of $6.53 and a 52-week high of $10.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. The firm has a 50-day moving average of $7.99 and a 200-day moving average of $8.23. The stock has a market cap of $956.73 million, a PE ratio of -6.99 and a beta of 2.07.

Insider Buying and Selling

In other news, CFO David Scott Schorlemer purchased 4,500 shares of ProPetro stock in a transaction dated Monday, November 4th. The shares were bought at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the acquisition, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in shares of ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after buying an additional 1,473 shares during the period. Quarry LP bought a new stake in ProPetro in the second quarter valued at approximately $40,000. nVerses Capital LLC increased its position in ProPetro by 226.3% during the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after purchasing an additional 4,300 shares during the period. CWM LLC raised its holdings in ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after purchasing an additional 1,267 shares during the last quarter. Finally, Chilton Capital Management LLC raised its holdings in ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

About ProPetro

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.