ProPetro Holding Corp. (NYSE:PUMP) Receives $16.12 Consensus Target Price from Analysts

Shares of ProPetro Holding Corp. (NYSE:PUMP) have been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned 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 $15.7778.

Several analysts recently commented on the company. Wall Street Zen downgraded ProPetro from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research note on Friday, July 31st. The Goldman Sachs Group restated a “neutral” rating and issued a $16.00 price target on shares of ProPetro in a report on Wednesday, June 3rd. Odeon Capital Group began coverage on ProPetro in a research report on Thursday, May 28th. They set a “buy” rating on the stock. Finally, Barclays cut their price objective on ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th.

ProPetro Stock Up 0.7%

ProPetro stock opened at $10.54 on Friday. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -95.77 and a beta of 0.77. The company’s 50 day simple moving average is $11.57 and its 200 day simple moving average is $13.69. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.09 and a quick ratio of 4.00. ProPetro has a fifty-two week low of $4.73 and a fifty-two week high of $18.50.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, July 29th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The firm had revenue of $305.81 million during the quarter, compared to the consensus estimate of $304.48 million. During the same period in the previous year, the company posted ($0.07) EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that ProPetro will post -0.11 EPS for the current year.

Insider Buying and Selling

In other ProPetro news, COO Adam Muñoz sold 70,696 shares of ProPetro stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the transaction, the chief operating officer owned 148,691 shares of the company’s stock, valued at approximately $1,660,878.47. The trade was a 32.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director G Lawrence sold 35,831 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total transaction of $399,873.96. Following the completion of the transaction, the director owned 28,181 shares of the company’s stock, valued at $314,499.96. This trade represents a 55.98% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProPetro

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new position in ProPetro in the 2nd quarter worth $74,000. State of Wyoming bought a new position in ProPetro during the 1st quarter worth about $83,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of ProPetro in the 4th quarter valued at about $111,000. Alpine Global Management LLC acquired a new stake in shares of ProPetro in the 4th quarter valued at about $118,000. Finally, ProShare Advisors LLC raised its stake in shares of ProPetro by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock valued at $139,000 after purchasing an additional 944 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

About ProPetro

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to exploration and production companies developing unconventional oil and natural gas wells. The company primarily serves customers in the Permian Basin, including the Midland and Delaware basins of West Texas and southeastern New Mexico.

Its principal services include hydraulic fracturing, which uses high-pressure fluid to stimulate wells, as well as wireline services used for well evaluation, perforating and other completion activities.