ProPetro’s (PUMP) “Equal Weight” Rating Reiterated at Barclays

Barclays reissued their equal weight rating on shares of ProPetro (NYSE:PUMP) in a report released on Monday morning, Marketbeat reports. They currently have a $5.00 price objective on the stock, down from their prior price objective of $6.00.

Several other equities analysts also recently issued reports on the company. Zacks Research downgraded ProPetro from a “hold” rating to a “strong sell” rating in a research report on Monday, September 1st. Citigroup increased their price target on ProPetro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Piper Sandler dropped their target price on ProPetro from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of ProPetro in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $6.80.

ProPetro Trading Up 2.7%

Shares of NYSE PUMP opened at $5.26 on Monday. The stock has a market capitalization of $546.78 million, a P/E ratio of -3.58 and a beta of 1.00. The business’s 50 day moving average is $5.00 and its two-hundred day moving average is $5.52. ProPetro has a 1-year low of $4.51 and a 1-year high of $11.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. The business had revenue of $326.15 million for the quarter, compared to the consensus estimate of $331.26 million. During the same period in the prior year, the company posted ($0.03) EPS. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, research analysts expect that ProPetro will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PUMP. Quarry LP acquired a new position in ProPetro during the first quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in ProPetro during the 1st quarter valued at $32,000. State of Wyoming acquired a new position in ProPetro during the 1st quarter worth $48,000. PharVision Advisers LLC bought a new position in shares of ProPetro in the 2nd quarter worth about $60,000. Finally, Raymond James Financial Inc. bought a new position in shares of ProPetro in the 2nd quarter worth about $60,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Company Profile

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.