ProPetro (NYSE:PUMP) Price Target Raised to $12.00

ProPetro (NYSE:PUMP) had its price objective lifted by Stifel Nicolaus from $11.00 to $12.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

PUMP has been the topic of a number of other reports. Citigroup boosted their price objective on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised 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. Finally, Benchmark reaffirmed a “hold” rating on shares of ProPetro in a report on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, ProPetro presently has a consensus rating of “Hold” and a consensus target price of $11.00.

ProPetro Stock Performance

Shares of PUMP stock opened at $9.12 on Friday. The business’s fifty day simple moving average is $9.50 and its 200-day simple moving average is $8.53. The company has a market cap of $938.21 million, a PE ratio of -6.80 and a beta of 1.98. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. ProPetro has a 12-month low of $6.53 and a 12-month high of $11.17.

Institutional Investors Weigh In On ProPetro

Several hedge funds have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of ProPetro by 16.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 228,835 shares of the company’s stock worth $2,135,000 after acquiring an additional 32,710 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of ProPetro during the 4th quarter worth about $533,000. Waverly Advisors LLC acquired a new position in shares of ProPetro during the 4th quarter worth about $115,000. Sourcerock Group LLC acquired a new position in shares of ProPetro during the 4th quarter worth about $14,079,000. Finally, Squarepoint Ops LLC acquired a new position in shares of ProPetro during the 4th quarter worth about $2,024,000. 84.70% of the stock is 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.