ProPetro (NYSE:PUMP - Free Report) had its price objective cut by Barclays from $12.00 to $11.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.
PUMP has been the subject of a number of other research reports. Citigroup boosted their price objective on shares of ProPetro from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Benchmark reiterated a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. Stifel Nicolaus raised their price objective on ProPetro from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. upgraded ProPetro from an "underweight" rating to a "neutral" rating and set a $10.00 target price for the company in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.75.
Read Our Latest Report on PUMP
ProPetro Stock Performance
Shares of PUMP traded down $0.22 during midday trading on Monday, reaching $7.20. 1,944,449 shares of the stock were exchanged, compared to its average volume of 1,667,543. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The stock's 50 day simple moving average is $9.37 and its 200 day simple moving average is $8.52. ProPetro has a twelve month low of $6.53 and a twelve month high of $11.17. The company has a market cap of $742.30 million, a P/E ratio of -5.37 and a beta of 2.03.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in PUMP. Smartleaf Asset Management LLC boosted its holdings in shares of ProPetro by 205.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock valued at $28,000 after purchasing an additional 2,005 shares in the last quarter. GAMMA Investing LLC boosted its stake in ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company's stock valued at $41,000 after buying an additional 1,225 shares in the last quarter. KBC Group NV grew its position in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company's stock valued at $75,000 after acquiring an additional 3,821 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in ProPetro in the third quarter valued at about $77,000. Finally, Raymond James Financial Inc. acquired a new position in ProPetro during the fourth quarter worth about $94,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.
About ProPetro
(
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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.
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