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

ProPetro (NYSE:PUMP) had its price objective boosted by Barclays from $12.00 to $13.00 in a research note issued to investors on Monday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts have also recently commented on the company. TheStreet cut ProPetro from a b- rating to a c+ rating in a report on Monday, January 8th. Benchmark restated a hold rating on shares of ProPetro in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, ProPetro has a consensus rating of Hold and a consensus price target of $13.33.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $9.47 on Monday. The company has a market capitalization of $1.01 billion, a PE ratio of 14.13 and a beta of 2.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.12 and a current ratio of 1.18. The company’s fifty day moving average is $8.19 and its 200-day moving average is $8.47. ProPetro has a 52 week low of $6.47 and a 52 week high of $11.37.

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

Insider Buying and Selling at ProPetro

In related news, COO Adam Munoz sold 42,573 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total transaction of $395,077.44. Following the completion of the sale, the chief operating officer now directly owns 58,134 shares of the company’s stock, valued at $539,483.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.97% of the company’s stock.

Hedge Funds Weigh In On ProPetro

Several hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its stake in shares of ProPetro by 47.1% in the 4th quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after acquiring an additional 2,542 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of ProPetro by 7.4% in the 3rd quarter. Hsbc Holdings PLC now owns 31,415 shares of the company’s stock valued at $334,000 after buying an additional 2,172 shares during the period. Graham Capital Management L.P. bought a new stake in shares of ProPetro in the 3rd quarter valued at $314,000. Trexquant Investment LP raised its stake in ProPetro by 174.3% during the 3rd quarter. Trexquant Investment LP now owns 44,858 shares of the company’s stock worth $477,000 after buying an additional 28,507 shares during the period. Finally, Natixis Advisors L.P. grew its stake in ProPetro by 28.2% in the third quarter. Natixis Advisors L.P. now owns 51,902 shares of the company’s stock valued at $552,000 after acquiring an additional 11,420 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

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.