Shares of ProPetro Holding Corp. (NYSE:PUMP) have received an average rating of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.32.
PUMP has been the topic of a number of recent analyst reports. Piper Sandler raised their target price on ProPetro from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, December 24th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded ProPetro to a “buy” rating and raised their target price for the stock from $6.00 to $9.00 in a report on Tuesday, December 15th. JPMorgan Chase & Co. lifted their price objective on ProPetro from $6.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, December 18th. Citigroup lifted their price objective on ProPetro from $9.00 to $14.00 in a report on Tuesday, March 2nd. Finally, B. Riley lifted their price objective on ProPetro from $9.50 to $12.50 and gave the company a “neutral” rating in a report on Thursday, March 4th.
In related news, insider Samuel D. Sledge sold 19,099 shares of ProPetro stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $11.56, for a total value of $220,784.44. Following the sale, the insider now owns 21,840 shares of the company’s stock, valued at approximately $252,470.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.60% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of PUMP. Arrowstreet Capital Limited Partnership increased its position in shares of ProPetro by 10,255.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,273,665 shares of the company’s stock worth $5,171,000 after purchasing an additional 1,261,365 shares during the last quarter. BlackRock Inc. increased its position in shares of ProPetro by 6.3% during the 4th quarter. BlackRock Inc. now owns 12,746,812 shares of the company’s stock worth $94,197,000 after purchasing an additional 754,132 shares during the last quarter. State of Wisconsin Investment Board acquired a new position in shares of ProPetro during the 4th quarter worth approximately $4,353,000. Matarin Capital Management LLC acquired a new position in shares of ProPetro during the 4th quarter worth approximately $4,151,000. Finally, Lazard Asset Management LLC acquired a new position in shares of ProPetro during the 4th quarter worth approximately $2,598,000. 78.51% of the stock is currently owned by hedge funds and other institutional investors.
ProPetro stock traded down $0.38 during mid-day trading on Monday, hitting $10.23. The stock had a trading volume of 1,512 shares, compared to its average volume of 1,120,388. The stock has a 50-day simple moving average of $11.29 and a two-hundred day simple moving average of $8.25. The stock has a market capitalization of $1.04 billion, a PE ratio of -24.90 and a beta of 3.48. ProPetro has a 12 month low of $2.77 and a 12 month high of $13.99.
ProPetro (NYSE:PUMP) last issued its earnings results on Monday, February 22nd. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.24). ProPetro had a negative return on equity of 0.92% and a negative net margin of 3.76%. The company had revenue of $154.34 million for the quarter, compared to the consensus estimate of $152.76 million. During the same quarter last year, the business posted $0.22 EPS. ProPetro’s quarterly revenue was down 64.5% on a year-over-year basis. Research analysts forecast that ProPetro will post -0.39 earnings per share for the current year.
ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company offers hydraulic fracturing services; and a suite of well completion and production services, including cementing, acidizing, coiled tubing, flowback, and drilling services. It serves the upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources in the Permian Basin.
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