ProPetro (NYSE:PUMP) Given New $11.00 Price Target at Barclays

ProPetro (NYSE:PUMP) had its price target cut by Barclays from $12.00 to $11.00 in a research note released on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Benchmark reissued a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a research report on Friday, December 6th. Citigroup upped their price objective on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus upped their price objective on shares of ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, ProPetro has an average rating of “Hold” and a consensus target price of $10.75.

ProPetro Trading Down 1.1 %

PUMP stock opened at $7.44 on Monday. The company has a market cap of $767.06 million, a price-to-earnings ratio of -5.55 and a beta of 1.98. 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 business has a fifty day simple moving average of $9.40 and a 200-day simple moving average of $8.53. ProPetro has a 52 week low of $6.53 and a 52 week high of $11.17.

Hedge Funds Weigh In On ProPetro

Hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in ProPetro by 205.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after purchasing an additional 2,005 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 purchasing an additional 1,225 shares in the last quarter. KBC Group NV grew its stake in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after purchasing an additional 3,821 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in ProPetro in the third quarter worth about $77,000. Finally, Raymond James Financial Inc. acquired a new position in ProPetro in the fourth quarter valued at approximately $94,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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.