Brokerages Set ProPetro Holding Corp. (NYSE:PUMP) Target Price at $10.25

ProPetro Holding Corp. (NYSE:PUMP) has earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.25.

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

ProPetro Price Performance

Shares of NYSE:PUMP opened at $9.87 on Tuesday. The firm has a market capitalization of $1.02 billion, a PE ratio of -7.42 and a beta of 2.07. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05. ProPetro has a 1-year low of $6.53 and a 1-year high of $10.06. The business’s 50 day moving average is $8.41 and its 200-day moving average is $8.26.

Insider Buying and Selling

In other ProPetro news, CFO David Scott Schorlemer purchased 4,500 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the transaction, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $775,125.12. The trade was a 4.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ProPetro

A number of institutional investors and hedge funds have recently bought and sold shares of PUMP. Pacer Advisors Inc. acquired a new stake in shares of ProPetro in the second quarter valued at $31,741,000. Dana Investment Advisors Inc. acquired a new stake in ProPetro in the 2nd quarter valued at about $6,439,000. Point72 Asset Management L.P. bought a new position in shares of ProPetro in the third quarter worth about $3,525,000. American Century Companies Inc. lifted its position in shares of ProPetro by 21.3% during the second quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock worth $21,810,000 after purchasing an additional 441,644 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of ProPetro during the third quarter valued at approximately $2,292,000. Institutional investors and hedge funds 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.