ProPetro (NYSE:PUMP) Price Target Raised to $10.00

ProPetro (NYSE:PUMP) had its target price hoisted by Barclays from $5.00 to $10.00 in a research note issued to investors on Monday, MarketBeat reports. Barclays currently has an equal weight rating on the stock.

PUMP has been the topic of several other research reports. Piper Sandler upgraded ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 target price on the stock in a research report on Monday. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the company a “buy” rating in a research note on Wednesday, July 16th. Citigroup upped their target price on ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Zacks Research upgraded ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of ProPetro in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.00.

ProPetro Stock Up 6.7%

Shares of NYSE PUMP opened at $10.85 on Monday. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -63.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.35. The business has a 50-day moving average of $5.96 and a two-hundred day moving average of $5.76. ProPetro has a 1 year low of $4.51 and a 1 year high of $11.66.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The business had revenue of $293.92 million for the quarter, compared to analysts’ expectations of $266.25 million. During the same quarter in the previous year, the firm earned ($1.32) earnings per share. The business’s revenue was down 18.6% compared to the same quarter last year. On average, analysts forecast that ProPetro will post 0.25 earnings per share for the current fiscal year.

Insider Transactions at ProPetro

In other ProPetro news, Director Michele Vion sold 6,916 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $10.64, for a total value of $73,586.24. Following the transaction, the director owned 45,029 shares of the company’s stock, valued at $479,108.56. This trade represents a 13.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director G Larry Lawrence sold 27,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $10.84, for a total transaction of $292,680.00. Following the completion of the sale, the director owned 35,831 shares in the company, valued at $388,408.04. The trade was a 42.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.60% of the company’s stock.

Institutional Trading of ProPetro

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new position in ProPetro in the 1st quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in shares of ProPetro during the 1st quarter valued at $32,000. State of Wyoming bought a new position in shares of ProPetro during the 1st quarter valued at $48,000. Trek Financial LLC bought a new position in ProPetro in the 3rd quarter worth $57,000. Finally, PharVision Advisers LLC bought a new position in ProPetro in the 2nd quarter worth $60,000. 84.70% of the stock is currently owned by institutional investors.

About ProPetro

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.