ProPetro (NYSE:PUMP) Given New $10.00 Price Target at Citigroup

ProPetro (NYSE:PUMP - Get Free Report) had its price objective increased by equities research analysts at Citigroup from $8.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's target price points to a potential upside of 0.20% from the company's current price.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of ProPetro from an "underweight" rating to a "neutral" rating and set a $10.00 price target on the stock in a research note on Friday, December 6th. Barclays lowered 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. Finally, Stifel Nicolaus lowered their price target on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.75.

ProPetro Trading Up 1.7 %

Shares of PUMP traded up $0.17 on Tuesday, hitting $9.98. 1,422,210 shares of the stock traded hands, compared to its average volume of 1,287,527. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.03 billion, a P/E ratio of -7.50 and a beta of 2.00. The stock's 50 day moving average is $8.51 and its two-hundred day moving average is $8.28. ProPetro has a 1 year low of $6.53 and a 1 year high of $10.17.

Insider Buying and Selling at ProPetro

In other ProPetro 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 transaction, the chief financial officer now owns 112,992 shares in the company, valued at $775,125.12. This represents a 4.15 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

Institutional Trading of ProPetro

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company's stock valued at $41,000 after purchasing an additional 1,225 shares during the last quarter. JPMorgan Chase & Co. increased its stake in ProPetro by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 97,736 shares of the company's stock valued at $749,000 after buying an additional 5,198 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in ProPetro by 209.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 272,374 shares of the company's stock valued at $2,115,000 after buying an additional 184,273 shares during the period. Franklin Resources Inc. increased its stake in ProPetro by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 61,979 shares of the company's stock valued at $513,000 after buying an additional 3,417 shares during the period. Finally, Barclays PLC increased its stake in ProPetro by 109.2% during the 3rd quarter. Barclays PLC now owns 242,057 shares of the company's stock valued at $1,855,000 after buying an additional 126,346 shares during the period. 84.70% of the stock is currently owned by institutional investors.

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.