Barclays Increases ProPetro (NYSE:PUMP) Price Target to $14.00

ProPetro (NYSE:PUMP) had its target price increased by equities research analysts at Barclays from $12.00 to $14.00 in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential upside of 1.49% from the company’s previous close.

PUMP has been the subject of several other reports. Bank of America initiated coverage on ProPetro in a report on Monday, March 30th. They set a “buy” rating and a $18.00 price target for the company. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $7.00 to $13.00 in a report on Wednesday, December 10th. Finally, Piper Sandler lifted their price target on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ProPetro has an average rating of “Hold” and an average price target of $14.00.

ProPetro Stock Performance

NYSE:PUMP opened at $13.80 on Thursday. The stock has a market cap of $1.69 billion, a P/E ratio of 1,379.50 and a beta of 0.62. The stock has a 50 day simple moving average of $12.90 and a 200 day simple moving average of $10.27. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.13. ProPetro has a 1-year low of $4.51 and a 1-year high of $15.49.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.14. The business had revenue of $289.68 million during the quarter, compared to analysts’ expectations of $279.90 million. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS. Research analysts anticipate that ProPetro will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On ProPetro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its holdings in ProPetro by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock valued at $139,000 after acquiring an additional 944 shares in the last quarter. FourThought Financial Partners LLC raised its holdings in ProPetro by 3.1% in the 4th quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock valued at $578,000 after acquiring an additional 1,840 shares in the last quarter. Mutual Advisors LLC raised its holdings in ProPetro by 1.2% in the 3rd quarter. Mutual Advisors LLC now owns 164,822 shares of the company’s stock valued at $864,000 after acquiring an additional 2,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ProPetro by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock valued at $379,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in ProPetro by 14.2% in the 3rd quarter. Profund Advisors LLC now owns 18,958 shares of the company’s stock valued at $99,000 after acquiring an additional 2,355 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

About ProPetro

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.