Brokerages Set ProPetro Holding Corp. (NYSE:PUMP) PT at $10.25

ProPetro Holding Corp. (NYSE:PUMP) has earned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $10.25.

A number of brokerages have recently issued reports on PUMP. Stifel Nicolaus reduced their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 11th. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target for the company in a research note on Friday, December 6th. Barclays lowered 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. Finally, Citigroup reduced their target price on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st.

ProPetro Stock Performance

Shares of PUMP stock opened at $9.42 on Friday. ProPetro has a 52 week low of $6.53 and a 52 week high of $10.02. The company has a market capitalization of $969.60 million, a price-to-earnings ratio of -7.08 and a beta of 2.07. The company has a 50-day simple moving average of $8.05 and a 200 day simple moving average of $8.25. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20.

Insider Buying and Selling at ProPetro

In other news, CFO David Scott Schorlemer purchased 4,500 shares of ProPetro stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the transaction, the chief financial officer now owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. The trade was a 4.15 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On ProPetro

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. bought a new stake in shares of ProPetro during the 3rd quarter worth $3,525,000. Pacer Advisors Inc. raised its stake in ProPetro by 95.4% during the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock worth $54,790,000 after acquiring an additional 3,491,723 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of ProPetro in the second quarter worth about $746,000. Exchange Traded Concepts LLC acquired a new stake in shares of ProPetro in the 3rd quarter valued at approximately $1,013,000. Finally, Creative Planning increased its position in ProPetro by 80.0% during the 3rd quarter. Creative Planning now owns 57,238 shares of the company’s stock worth $438,000 after purchasing an additional 25,445 shares in the last quarter. 84.70% of the stock is currently 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.