ProPetro (NYSE:PUMP) Price Target Cut to $12.00 by Analysts at Barclays

ProPetro (NYSE:PUMP - Get Free Report) had its price objective lowered by investment analysts at Barclays from $13.00 to $12.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 46.88% from the stock's current price.

Separately, Stifel Nicolaus cut their target price 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 Trading Up 1.7 %

NYSE PUMP traded up $0.14 during trading hours on Wednesday, hitting $8.17. 918,205 shares of the company were exchanged, compared to its average volume of 1,469,422. The stock has a 50-day moving average price of $7.98 and a 200 day moving average price of $8.52. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.05. ProPetro has a 52 week low of $6.74 and a 52 week high of $11.37. The stock has a market cap of $879.09 million, a PE ratio of 12.19 and a beta of 2.02.

ProPetro (NYSE:PUMP - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.11). The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $361.85 million. ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The company's quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. Analysts forecast that ProPetro will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Michele Vion sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $8.26, for a total value of $41,300.00. Following the transaction, the director now owns 34,006 shares of the company's stock, valued at $280,889.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in ProPetro by 5.7% during the fourth quarter. Wellington Management Group LLP now owns 740,554 shares of the company's stock worth $6,206,000 after buying an additional 40,188 shares during the period. Quadrature Capital Ltd purchased a new stake in ProPetro during the fourth quarter worth $102,000. North Star Investment Management Corp. lifted its holdings in ProPetro by 171.5% during the first quarter. North Star Investment Management Corp. now owns 246,000 shares of the company's stock worth $1,988,000 after buying an additional 155,393 shares during the period. Hartree Partners LP purchased a new stake in ProPetro during the first quarter worth $3,259,000. Finally, Jennison Associates LLC purchased a new stake in ProPetro during the first quarter worth $960,000. 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.