ProPetro Holding Corp. (NYSE:PUMP) Receives Consensus Rating of “Hold” from Brokerages

ProPetro Holding Corp. (NYSE:PUMP) has earned a consensus rating of “Hold” from the five research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $10.25.

A number of research firms have recently issued reports on PUMP. Barclays cut their price objective on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a research note on Friday. Citigroup cut their price target 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. Finally, Stifel Nicolaus reduced their price target on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th.

ProPetro Stock Down 5.9 %

NYSE PUMP traded down $0.49 during trading hours on Friday, hitting $7.75. 158,189 shares of the company traded hands, compared to its average volume of 1,421,194. The business’s 50-day moving average is $7.95 and its 200-day moving average is $8.27. ProPetro has a twelve month low of $6.53 and a twelve month high of $10.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. The stock has a market capitalization of $797.71 million, a price-to-earnings ratio of -5.83 and a beta of 2.07.

Insider Buying and Selling at ProPetro

In related news, CFO David Scott Schorlemer purchased 4,500 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the acquisition, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by insiders.

Institutional Trading of ProPetro

A number of hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after buying an additional 1,473 shares during the last quarter. Quarry LP purchased a new position in shares of ProPetro in the 2nd quarter valued at approximately $40,000. nVerses Capital LLC raised its position in shares of ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after purchasing an additional 4,300 shares during the last quarter. Chilton Capital Management LLC raised its position in shares of ProPetro by 87.1% in the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after purchasing an additional 4,000 shares during the last quarter. Finally, CWM LLC raised its position in shares of ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after purchasing an additional 1,267 shares during the last quarter. 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.