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

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) has earned an average recommendation of "Hold" from the five analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.25.

PUMP has been the subject of a number of research analyst reports. Barclays dropped their price target on ProPetro from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Stifel Nicolaus dropped their target price on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Friday, October 11th. Citigroup reduced their price target 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. Finally, JPMorgan Chase & Co. upgraded shares of ProPetro from an "underweight" rating to a "neutral" rating and set a $10.00 price objective for the company in a report on Friday, December 6th.

ProPetro Trading Up 1.0 %

PUMP traded up $0.09 during midday trading on Tuesday, reaching $9.33. 1,724,214 shares of the company's stock traded hands, compared to its average volume of 1,510,149. The stock has a market capitalization of $960.34 million, a price-to-earnings ratio of -7.01 and a beta of 2.07. ProPetro has a 52 week low of $6.53 and a 52 week high of $10.02. The firm has a fifty day moving average of $8.26 and a two-hundred day moving average of $8.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14.

Insiders Place Their Bets

In related news, CFO David Scott Schorlemer bought 4,500 shares of the firm's stock in a transaction on Monday, November 4th. The stock was acquired at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the purchase, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. This represents a 4.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is owned by insiders.

Institutional Trading of ProPetro

Large investors have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in shares of ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company's stock worth $66,000 after acquiring an additional 1,267 shares during the last quarter. GAMMA Investing LLC grew its holdings in ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company's stock valued at $25,000 after purchasing an additional 1,473 shares during the period. Victory Capital Management Inc. increased its position in ProPetro by 1.8% in the second quarter. Victory Capital Management Inc. now owns 111,904 shares of the company's stock worth $970,000 after buying an additional 1,990 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of ProPetro by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,392 shares of the company's stock valued at $324,000 after buying an additional 2,257 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of ProPetro by 8.9% during the 2nd quarter. Federated Hermes Inc. now owns 29,912 shares of the company's stock valued at $259,000 after acquiring an additional 2,446 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.