ProPetro (NYSE:PUMP) Shares Gap Up – Should You Buy?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $5.19, but opened at $5.38. ProPetro shares last traded at $5.37, with a volume of 148,055 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on PUMP shares. Barclays cut their price objective on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Benchmark restated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Citigroup lifted their price target on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus raised their price objective on shares of ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a 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’s stock. According to MarketBeat.com, ProPetro presently has an average rating of “Hold” and an average target price of $10.75.

ProPetro Stock Up 5.9 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31. The stock has a market cap of $570.29 million, a P/E ratio of -4.07 and a beta of 1.58. The firm’s 50-day moving average is $7.24 and its two-hundred day moving average is $8.22.

Institutional Investors Weigh In On ProPetro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its stake in 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 during the last quarter. GAMMA Investing LLC increased its holdings in shares of ProPetro by 38.0% during the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after acquiring an additional 1,225 shares during the last quarter. KBC Group NV raised its stake in ProPetro by 90.5% in the 4th 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 period. Raymond James Financial Inc. bought a new position in ProPetro during the fourth quarter worth $94,000. Finally, Tower Research Capital LLC TRC raised its position in shares of ProPetro by 101.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company’s stock valued at $98,000 after purchasing an additional 5,270 shares during the period. 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.