Barclays Issues Positive Forecast for ProPetro (NYSE:PUMP) Stock Price

ProPetro (NYSE:PUMP) had its price target raised by Barclays from $5.00 to $10.00 in a research note issued to investors on Monday, Marketbeat.com reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on PUMP. Piper Sandler raised ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 target price for the company in a research report on Monday. Citigroup raised their target price on ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday. Zacks Research raised ProPetro from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the stock 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 report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, ProPetro has an average rating of “Hold” and a consensus target price of $11.00.

ProPetro Price Performance

Shares of PUMP opened at $10.94 on Monday. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -64.34 and a beta of 1.00. ProPetro has a fifty-two week low of $4.51 and a fifty-two week high of $11.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.35. The business’s 50-day moving average is $5.73 and its 200-day moving average is $5.69.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $293.92 million for the quarter, compared to the consensus estimate of $266.25 million. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The firm’s quarterly revenue was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.32) EPS. Equities research analysts expect that ProPetro will post 0.25 EPS for the current fiscal year.

Insider Activity

In related news, Director Michele Vion sold 6,916 shares of ProPetro stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $10.64, for a total transaction of $73,586.24. Following the completion of the transaction, the director directly owned 45,029 shares of the company’s stock, valued at $479,108.56. This trade represents a 13.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director G Larry Lawrence sold 27,000 shares of ProPetro stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $10.84, for a total value of $292,680.00. Following the completion of the transaction, the director directly owned 35,831 shares of the company’s stock, valued at $388,408.04. This represents a 42.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PUMP. Quarry LP bought a new position in shares of ProPetro in the first quarter valued at about $25,000. Headlands Technologies LLC bought a new position in shares of ProPetro in the first quarter valued at about $32,000. State of Wyoming bought a new position in shares of ProPetro in the first quarter valued at about $48,000. Trek Financial LLC bought a new position in shares of ProPetro in the third quarter valued at about $57,000. Finally, PharVision Advisers LLC bought a new position in shares of ProPetro in the second quarter valued at about $60,000. 84.70% of the stock is owned by institutional investors.

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.