ProPetro Holding Corp. (NYSE:PUMP) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of ProPetro Holding Corp. (NYSE:PUMP) have received a consensus rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $10.25.

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. 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. Citigroup decreased their price target on ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Barclays dropped their price objective on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th.

ProPetro Stock Performance

Shares of PUMP stock opened at $9.83 on Tuesday. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -7.39 and a beta of 2.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. ProPetro has a one year low of $6.53 and a one year high of $10.13. The company’s 50-day moving average is $8.46 and its 200 day moving average is $8.27.

Insider Transactions at ProPetro

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the transaction, the chief financial officer now owns 112,992 shares of the company’s stock, valued at $775,125.12. This represents a 4.15 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On ProPetro

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in ProPetro by 1.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 780,498 shares of the company’s stock worth $6,767,000 after acquiring an additional 14,144 shares in the last quarter. Chilton Capital Management LLC boosted its holdings in ProPetro by 87.1% in the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after buying an additional 4,000 shares during the period. Victory Capital Management Inc. increased its stake in ProPetro by 1.8% in the 2nd 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. Arizona State Retirement System raised its holdings in ProPetro by 12.6% during the second quarter. Arizona State Retirement System now owns 25,596 shares of the company’s stock valued at $222,000 after acquiring an additional 2,874 shares during the period. Finally, LSV Asset Management lifted its position in shares of ProPetro by 28.2% in the second quarter. LSV Asset Management now owns 59,500 shares of the company’s stock valued at $516,000 after acquiring an additional 13,100 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other 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.