ProPetro Holding Corp. (NYSE:PUMP) Stock Has Consensus Price Target of $15.25

ProPetro Holding Corp. (NYSE:PUMP) has received an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $15.00.

A number of research analysts recently weighed in on PUMP shares. Weiss Ratings raised ProPetro from a “sell (e+)” rating to a “sell (d+)” rating in a research report on Monday. Scotiabank raised their price target on shares of ProPetro from $12.00 to $16.00 and gave the company a “sector perform” rating in a research note on Friday, October 30th. Freedom Broker upgraded ProPetro from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 29th. Stifel Nicolaus decreased their price target on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Finally, Piper Sandler dropped their target price on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th.

Hedge Funds Weigh In On ProPetro

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in ProPetro by 25.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 177,373 shares of the company’s stock valued at $1,568,000 after purchasing an additional 36,383 shares during the last quarter. Fifth Third Bancorp increased its holdings in ProPetro by 36.3% during the 3rd quarter. Fifth Third Bancorp now owns 72,398 shares of the company’s stock valued at $640,000 after purchasing an additional 19,279 shares during the period. Pictet Asset Management Holding SA raised its stake in ProPetro by 54.2% during the 3rd quarter. Pictet Asset Management Holding SA now owns 21,869 shares of the company’s stock valued at $193,000 after buying an additional 7,685 shares during the last quarter. Parallel Advisors LLC lifted its position in ProPetro by 422.0% during the third quarter. Parallel Advisors LLC now owns 2,876 shares of the company’s stock valued at $25,000 after purchasing an additional 2,325 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in shares of ProPetro by 33.0% in the 3rd quarter. Kestra Advisory Services LLC now owns 35,500 shares of the company’s stock valued at $314,000 after buying an additional 8,800 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

ProPetro Trading Up 6.3%

Shares of PUMP stock opened at $6.39 on Monday. ProPetro has a 52-week low of $5.95 and a 52-week high of $18.50. The business has a 50-day simple moving average of $9.16 and a 200-day simple moving average of $12.43. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.41.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. The business had revenue of $355.38 million during the quarter, compared to the consensus estimate of $320.44 million. ProPetro had a return on equity of 0.21% and a net margin of 0.16%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) EPS. Research analysts predict that ProPetro will post -0.05 earnings per share for the current year.

ProPetro Company Profile

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to oil and natural gas exploration and production companies. Its primary offerings include hydraulic fracturing, well stimulation and wireline services used to prepare newly drilled wells for production and support ongoing well operations.

The company operates primarily in the Permian Basin, serving customers in the West Texas and southeastern New Mexico region. ProPetro’s services are focused on unconventional shale and tight-rock wells, where specialized pumping, pressure-control and downhole technologies are used to improve hydrocarbon recovery.

ProPetro was founded in 2007 and is headquartered in Midland, Texas.