Citigroup Issues Pessimistic Forecast for ProPetro (NYSE:PUMP) Stock Price

ProPetro (NYSE:PUMP) had its target price reduced by Citigroup from $8.50 to $8.00 in a research report released on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

PUMP has been the subject of a number of other research reports. Stifel Nicolaus reduced their price objective on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Barclays reduced their price target on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.33.

ProPetro Stock Down 4.8 %

Shares of ProPetro stock opened at $6.58 on Thursday. ProPetro has a 1 year low of $6.53 and a 1 year high of $10.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.04. The stock has a market cap of $685.39 million, a price-to-earnings ratio of -4.95 and a beta of 2.04. The firm’s 50-day moving average is $7.80 and its two-hundred day moving average is $8.44.

Insider Activity at ProPetro

In related news, Director Michele Vion sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the transaction, the director now directly owns 34,006 shares in the company, valued at $280,889.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by corporate insiders.

Institutional Trading of ProPetro

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after buying an additional 1,473 shares during the period. Quarry LP acquired a new position in shares of ProPetro in the second quarter valued at about $40,000. nVerses Capital LLC raised its stake in shares of ProPetro by 226.3% in the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after purchasing an additional 4,300 shares during the last quarter. CWM LLC lifted its holdings in shares of ProPetro by 17.2% during 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 during the period. Finally, Chilton Capital Management LLC lifted its holdings in shares of ProPetro by 87.1% during the second 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. 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.