Brokerages Set ProPetro Holding Corp. (NYSE:PUMP) Target Price at $16.50

Shares of ProPetro Holding Corp. (NYSE:PUMP) have been given an average rating of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $16.50.

A number of analysts have issued reports on PUMP shares. Barclays cut their target price on ProPetro from $23.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Citigroup lowered their price target on shares of ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a report on Wednesday, June 3rd. Stifel Nicolaus cut their price objective on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research note on Friday, July 31st.

ProPetro Trading Down 1.8%

Shares of ProPetro stock opened at $10.62 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.09 and a quick ratio of 4.00. The stock’s 50 day simple moving average is $12.52 and its 200-day simple moving average is $13.76. The stock has a market cap of $1.30 billion, a P/E ratio of -96.56 and a beta of 0.77. ProPetro has a 1-year low of $4.52 and a 1-year high of $18.50.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The company had revenue of $305.81 million for the quarter, compared to analysts’ expectations of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) EPS. Analysts predict that ProPetro will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of ProPetro

A number of hedge funds and other institutional investors have recently modified their holdings of PUMP. Aster Capital Management DIFC Ltd acquired a new position in ProPetro in the fourth quarter valued at about $56,000. Dark Forest Capital Management LP acquired a new stake in shares of ProPetro during the third quarter valued at about $57,000. Raymond James Financial Inc. purchased a new stake in shares of ProPetro in the 2nd quarter valued at approximately $60,000. Tower Research Capital LLC TRC raised its stake in shares of ProPetro by 70.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after acquiring an additional 4,461 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of ProPetro in the 2nd quarter worth approximately $74,000. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Company Profile

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.