ProPetro (NYSE:PUMP) PT Set at $10.00 by Stifel Nicolaus

ProPetro (NYSE:PUMP) has been assigned a $10.00 price objective by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 72.50% from the company’s current price.

PUMP has been the topic of several other reports. JPMorgan Chase & Co. reduced their price target on ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Piper Sandler began coverage on ProPetro in a report on Monday. They issued a “neutral” rating and a $7.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, ProPetro currently has a consensus rating of “Hold” and a consensus target price of $9.00.

ProPetro Price Performance

Shares of PUMP opened at $5.80 on Wednesday. ProPetro has a 12-month low of $4.61 and a 12-month high of $11.17. The business’s fifty day moving average is $6.03 and its 200 day moving average is $7.14. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a market cap of $602.37 million, a P/E ratio of -4.05 and a beta of 1.18.

ProPetro (NYSE:PUMP) last announced 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 positive return on equity of 2.16% and a negative net margin of 10.60%. The business had revenue of $359.42 million for the quarter, compared to analysts’ expectations of $344.36 million. During the same period in the previous year, the business posted $0.18 EPS. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. Sell-side analysts anticipate that ProPetro will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its position in shares of ProPetro by 359.2% during the fourth quarter. Millennium Management LLC now owns 508,817 shares of the company’s stock worth $4,747,000 after buying an additional 398,021 shares during the period. Deutsche Bank AG raised its stake in shares of ProPetro by 47.5% in the fourth quarter. Deutsche Bank AG now owns 81,611 shares of the company’s stock valued at $761,000 after acquiring an additional 26,299 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of ProPetro by 714.0% in the first quarter. GAMMA Investing LLC now owns 36,191 shares of the company’s stock valued at $266,000 after acquiring an additional 31,745 shares in the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of ProPetro by 41.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 180,844 shares of the company’s stock valued at $1,687,000 after acquiring an additional 53,085 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of ProPetro by 11.0% in the fourth quarter. Jane Street Group LLC now owns 221,175 shares of the company’s stock valued at $2,064,000 after acquiring an additional 21,980 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

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.