Brokerages Set ProPetro Holding Corp. (NYSE:PUMP) Target Price at $9.00

Shares of ProPetro Holding Corp. (NYSE:PUMP) have been given an average rating of “Hold” by the six brokerages that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $9.00.

Several equities research analysts have recently commented on PUMP shares. Stifel Nicolaus set a $10.00 target price on shares of ProPetro and gave the company a “buy” rating in a research note on Wednesday, July 16th. Piper Sandler started coverage on shares of ProPetro in a research note on Monday, July 14th. They issued a “neutral” rating and a $7.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th.

ProPetro Stock Down 2.4%

PUMP opened at $4.70 on Friday. ProPetro has a fifty-two week low of $4.60 and a fifty-two week high of $11.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35. The firm’s fifty day moving average price is $5.96 and its two-hundred day moving average price is $6.51. The company has a market capitalization of $488.97 million, a P/E ratio of -3.20 and a beta of 1.18.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%. The business had revenue of $326.15 million for the quarter, compared to analyst estimates of $331.26 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. On average, analysts anticipate that ProPetro will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its position in ProPetro by 2.6% during the 2nd quarter. Empowered Funds LLC now owns 581,018 shares of the company’s stock worth $3,469,000 after buying an additional 14,731 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in ProPetro by 29.7% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 16,081 shares of the company’s stock worth $96,000 after buying an additional 3,680 shares in the last quarter. Bank of Montreal Can lifted its position in ProPetro by 48.0% during the 2nd quarter. Bank of Montreal Can now owns 15,152 shares of the company’s stock worth $90,000 after buying an additional 4,917 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in ProPetro by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 163,394 shares of the company’s stock worth $975,000 after buying an additional 1,990 shares in the last quarter. Finally, Stanley Laman Group Ltd. lifted its position in ProPetro by 25.3% during the 2nd quarter. Stanley Laman Group Ltd. now owns 507,261 shares of the company’s stock worth $3,028,000 after buying an additional 102,491 shares in the last quarter. 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.