ProPetro (NYSE:PUMP) Price Target Raised to $13.00 at Barclays

ProPetro (NYSE:PUMP) had its target price lifted by analysts at Barclays from $12.00 to $13.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 34.85% from the company’s previous close.

Several other equities analysts also recently commented on PUMP. Benchmark reissued a “hold” rating on shares of ProPetro in a research report on Thursday. TheStreet cut shares of ProPetro from a “b-” rating to a “c+” rating in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, ProPetro has a consensus rating of “Hold” and a consensus price target of $13.33.

ProPetro Stock Up 3.8 %

Shares of PUMP traded up $0.35 during midday trading on Monday, hitting $9.64. The company had a trading volume of 1,039,667 shares, compared to its average volume of 1,583,616. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 14.45 and a beta of 2.09. The company’s 50 day moving average price is $8.06 and its 200 day moving average price is $8.48. The company has a quick ratio of 1.12, a current ratio of 1.18 and a debt-to-equity ratio of 0.05. ProPetro has a 52 week low of $6.47 and a 52 week high of $11.37.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.10. The firm had revenue of $405.84 million during the quarter, compared to the consensus estimate of $393.11 million. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, equities research analysts predict that ProPetro will post 0.56 EPS for the current year.

Hedge Funds Weigh In On ProPetro

A number of hedge funds have recently bought and sold shares of PUMP. 9258 Wealth Management LLC bought a new stake in shares of ProPetro during the first quarter worth $100,000. Mutual Advisors LLC increased its position in shares of ProPetro by 49.5% during the first quarter. Mutual Advisors LLC now owns 182,152 shares of the company’s stock worth $1,472,000 after acquiring an additional 60,334 shares in the last quarter. Jennison Associates LLC bought a new position in shares of ProPetro in the first quarter valued at approximately $960,000. Hartree Partners LP purchased a new stake in ProPetro in the 1st quarter valued at $3,259,000. Finally, North Star Investment Management Corp. lifted its stake in ProPetro by 171.5% during the 1st quarter. North Star Investment Management Corp. now owns 246,000 shares of the company’s stock valued at $1,988,000 after acquiring an additional 155,393 shares in the last quarter. 84.70% of the stock is owned by institutional investors.

About ProPetro

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.