ProPetro (NYSE:PUMP) Price Target Raised to $13.00 at Barclays

ProPetro (NYSE:PUMP) had its target price hoisted by equities research analysts at Barclays from $12.00 to $13.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 37.28% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Benchmark reissued a “hold” rating on shares of ProPetro in a research note on Thursday, May 2nd. TheStreet cut ProPetro from a “b-” rating to a “c+” rating in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.33.

ProPetro Price Performance

Shares of NYSE PUMP opened at $9.47 on Monday. The stock has a market capitalization of $1.01 billion, a PE ratio of 14.13 and a beta of 2.09. ProPetro has a fifty-two week low of $6.47 and a fifty-two week high of $11.37. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.18 and a quick ratio of 1.12. The business has a fifty day moving average price of $8.14 and a two-hundred day moving average price of $8.46.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.10. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The company had revenue of $405.84 million during the quarter, compared to analysts’ expectations of $393.11 million. During the same quarter in the previous year, the firm earned $0.40 EPS. ProPetro’s revenue was down 4.2% on a year-over-year basis. As a group, equities analysts predict that ProPetro will post 0.56 earnings per share for the current fiscal year.

Insider Activity at ProPetro

In related news, COO Adam Munoz sold 42,573 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total transaction of $395,077.44. Following the sale, the chief operating officer now owns 58,134 shares of the company’s stock, valued at approximately $539,483.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.97% of the stock is owned by company insiders.

Institutional Trading of ProPetro

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of ProPetro by 47.1% during the fourth quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after purchasing an additional 2,542 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in ProPetro during the 4th quarter valued at $90,000. 9258 Wealth Management LLC bought a new stake in ProPetro in the 1st quarter worth $100,000. Quadrant Capital Group LLC increased its position in shares of ProPetro by 60.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company’s stock valued at $102,000 after acquiring an additional 4,550 shares during the period. Finally, Quadrature Capital Ltd bought a new position in shares of ProPetro during the fourth quarter valued at about $102,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.