Analysts Set ProPetro Holding Corp. (NYSE:PUMP) PT at $9.75

ProPetro Holding Corp. (NYSE:PUMP) has been assigned a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $9.00.

A number of brokerages recently weighed in on PUMP. JPMorgan Chase & Co. lowered their target price on shares of ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Piper Sandler initiated coverage on shares of ProPetro in a research report on Monday. They set a “neutral” rating and a $7.00 price objective for the company. Finally, Stifel Nicolaus set a $10.00 price target on shares of ProPetro and gave the company a “buy” rating in a research note on Wednesday.

Hedge Funds Weigh In On ProPetro

Several large investors have recently bought and sold shares of PUMP. MetLife Investment Management LLC raised its stake in shares of ProPetro by 2.5% during the 4th quarter. MetLife Investment Management LLC now owns 52,933 shares of the company’s stock worth $494,000 after purchasing an additional 1,270 shares during the period. Corient Private Wealth LLC lifted its position in ProPetro by 8.7% in the 4th quarter. Corient Private Wealth LLC now owns 17,591 shares of the company’s stock worth $164,000 after buying an additional 1,405 shares during the last quarter. Hsbc Holdings PLC lifted its position in ProPetro by 3.5% in the 1st quarter. Hsbc Holdings PLC now owns 49,858 shares of the company’s stock worth $371,000 after buying an additional 1,675 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ProPetro by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock valued at $379,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in ProPetro by 5.8% in the fourth quarter. Sterling Capital Management LLC now owns 46,415 shares of the company’s stock valued at $433,000 after purchasing an additional 2,535 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

ProPetro Stock Up 1.2%

Shares of NYSE:PUMP opened at $5.80 on Tuesday. ProPetro has a one year low of $4.61 and a one year high of $11.17. The company has a 50 day moving average of $6.03 and a 200-day moving average of $7.14. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.44 and a quick ratio of 1.39. The stock has a market cap of $602.37 million, a price-to-earnings ratio of -4.05 and a beta of 1.18.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. ProPetro had a negative net margin of 10.60% and a positive return on equity of 2.16%. The firm had revenue of $359.42 million during the quarter, compared to analysts’ expectations of $344.36 million. During the same quarter in the previous year, the company earned $0.18 earnings per share. The business’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, sell-side analysts forecast that ProPetro will post 0.25 earnings per share for the current year.

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.