ProPetro (NYSE:PUMP) Hits New 12-Month High - Should You Buy?

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $10.64 and last traded at $10.60, with a volume of 138820 shares. The stock had previously closed at $10.28.

Analyst Ratings Changes

PUMP has been the subject of several research analyst reports. Barclays lowered their target price 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 price objective on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Friday, October 11th. JPMorgan Chase & Co. raised shares of ProPetro from an "underweight" rating to a "neutral" rating and set a $10.00 target price on the stock in a research note on Friday, December 6th. Finally, Citigroup raised their price objective on ProPetro from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, ProPetro has a consensus rating of "Hold" and a consensus price target of $10.75.

ProPetro Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -7.88 and a beta of 2.00. The business's fifty day simple moving average is $8.76 and its 200 day simple moving average is $8.32.

Insiders Place Their Bets

In other news, CFO David Scott Schorlemer bought 4,500 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price 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 of the company's stock, valued at $775,125.12. This represents a 4.15 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company's stock.

Institutional Investors Weigh In On ProPetro

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company's stock worth $41,000 after buying an additional 1,225 shares during the period. JPMorgan Chase & Co. increased its position in shares of ProPetro by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 97,736 shares of the company's stock valued at $749,000 after acquiring an additional 5,198 shares during the period. B. Riley Wealth Advisors Inc. increased its position in shares of ProPetro by 209.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 272,374 shares of the company's stock valued at $2,115,000 after acquiring an additional 184,273 shares during the period. Franklin Resources Inc. raised its stake in shares of ProPetro by 5.8% during the third quarter. Franklin Resources Inc. now owns 61,979 shares of the company's stock valued at $513,000 after acquiring an additional 3,417 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of ProPetro by 109.2% in the third quarter. Barclays PLC now owns 242,057 shares of the company's stock worth $1,855,000 after purchasing an additional 126,346 shares during the last quarter. 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.