ProPetro Holding Corp. (NYSE:PUMP) Receives $16.12 Average Target Price from Brokerages

Shares of ProPetro Holding Corp. (NYSE:PUMP) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.7778.

A number of equities analysts have recently commented on the stock. Stifel Nicolaus dropped their price target on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Odeon Capital Group assumed coverage on shares of ProPetro in a research note on Thursday, May 28th. They issued a “buy” rating on the stock. Morgan Stanley started coverage on shares of ProPetro in a report on Monday. They issued an “equal weight” rating and a $13.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research report on Friday, July 31st. Finally, Citigroup decreased their price target on shares of ProPetro from $20.00 to $16.00 and set a “buy” rating for the company in a report on Monday, August 3rd.

ProPetro Trading Down 0.9%

Shares of NYSE PUMP opened at $10.40 on Friday. The business has a 50 day simple moving average of $11.72 and a 200 day simple moving average of $13.74. ProPetro has a 52 week low of $4.64 and a 52 week high of $18.50. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -94.59 and a beta of 0.77. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The business had revenue of $305.81 million during the quarter, compared to analyst estimates of $304.48 million. ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.07) EPS. On average, research analysts predict that ProPetro will post -0.1 earnings per share for the current fiscal year.

Insider Activity at ProPetro

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PUMP. Assenagon Asset Management S.A. acquired a new stake in ProPetro during the second quarter worth about $18,700,000. Y Intercept Hong Kong Ltd acquired a new position in ProPetro in the 1st quarter valued at approximately $2,045,000. Fund 1 Investments LLC lifted its position in shares of ProPetro by 2,653.6% in the 2nd quarter. Fund 1 Investments LLC now owns 1,793,882 shares of the company’s stock worth $25,724,000 after acquiring an additional 1,728,736 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of ProPetro in the 4th quarter worth approximately $3,085,000. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of ProPetro during the 2nd quarter worth approximately $20,316,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

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.