ProPetro Holding Corp. (NYSE:PUMP) Receives Average Recommendation of “Hold” from Analysts

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

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

ProPetro Stock Up 2.2 %

PUMP opened at $9.24 on Tuesday. ProPetro has a fifty-two week low of $6.53 and a fifty-two 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 stock has a market cap of $951.07 million, a price-to-earnings ratio of -6.95 and a beta of 2.07. The firm’s fifty day moving average is $8.26 and its 200 day moving average is $8.22.

Insiders Place Their Bets

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of ProPetro stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the purchase, the chief financial officer now directly 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 filing with the Securities & Exchange Commission, which is available at this link. 0.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in ProPetro by 84.3% during the 3rd 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 in the last quarter. Quarry LP bought a new stake in shares of ProPetro during the second quarter valued at approximately $40,000. nVerses Capital LLC boosted its holdings in shares of ProPetro by 226.3% in the third 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 grew its stake in ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after purchasing an additional 1,267 shares in the last quarter. Finally, Chilton Capital Management LLC increased 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 period. 84.70% of the stock is currently owned by institutional investors.

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.