ProPetro (NYSE:PUMP) Price Target Cut to $8.00 by Analysts at Citigroup

ProPetro (NYSE:PUMP) had its target price reduced by Citigroup from $8.50 to $8.00 in a research note published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also weighed in on the stock. Stifel Nicolaus dropped their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Barclays cut their price target on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, ProPetro presently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

ProPetro Price Performance

Shares of ProPetro stock opened at $6.58 on Thursday. The stock’s 50-day simple moving average is $7.80 and its 200-day simple moving average is $8.44. The company has a quick ratio of 1.04, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. ProPetro has a 52 week low of $6.53 and a 52 week high of $10.62. The company has a market capitalization of $685.39 million, a price-to-earnings ratio of -4.95 and a beta of 2.04.

Insider Transactions at ProPetro

In other news, Director Michele Vion sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $8.26, for a total value of $41,300.00. Following the completion of the sale, the director now directly owns 34,006 shares of the company’s stock, valued at $280,889.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On ProPetro

Several institutional investors have recently made changes to their positions in PUMP. GAMMA Investing LLC raised its holdings in shares of ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after buying an additional 1,473 shares during the period. Quarry LP bought a new position in ProPetro in the 2nd quarter valued at $40,000. nVerses Capital LLC increased its stake in ProPetro by 226.3% in the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after purchasing an additional 4,300 shares during the period. CWM LLC increased its stake in ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after purchasing an additional 1,267 shares during the period. Finally, Chilton Capital Management LLC lifted its position in shares of ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

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.