ProPetro Holding Corp. (NYSE:PUMP) Stock Rated “Moderate Buy” by Wall Street Analysts

ProPetro Holding Corp. (NYSE:PUMP) has been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $15.00.

Several equities research analysts recently weighed in on the company. Weiss Ratings upgraded ProPetro from a “sell (e+)” rating to a “sell (d+)” rating in a report on Monday, November 2nd. Citigroup lowered their price target on shares of ProPetro from $14.50 to $12.00 and set a “buy” rating for the company in a report on Wednesday, November 4th. Morgan Stanley lowered their price objective on shares of ProPetro from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 14th. Stifel Nicolaus reduced their target price on ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of ProPetro from a “sell” rating to a “hold” rating in a report on Saturday, October 31st.

ProPetro Price Performance

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

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

Institutional Trading of ProPetro

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in ProPetro during the second quarter worth about $130,574,000. Dimensional Fund Advisors LP boosted its holdings in ProPetro by 14.7% in the first quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock worth $93,408,000 after acquiring an additional 831,823 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of ProPetro by 10.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,449,379 shares of the company’s stock worth $49,706,000 after acquiring an additional 316,022 shares during the last quarter. Cooper Creek Partners Management LLC purchased a new position in shares of ProPetro in the 1st quarter worth about $42,748,000. Finally, Wellington Management Group LLP raised its position in shares of ProPetro by 882.3% in the 2nd quarter. Wellington Management Group LLP now owns 2,290,361 shares of the company’s stock worth $32,844,000 after purchasing an additional 2,057,195 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

About ProPetro

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.