ProPetro (NYSE:PUMP) Given New $12.00 Price Target at Barclays

ProPetro (NYSE:PUMP) had its target price upped by Barclays from $11.00 to $12.00 in a report released on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts have also weighed in on PUMP. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Wolfe Research upgraded shares of ProPetro to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, December 10th. JPMorgan Chase & Co. upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Citigroup lifted their price target on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Piper Sandler increased their price objective on ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.83.

ProPetro Stock Performance

PUMP stock opened at $11.64 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.42 billion, a PE ratio of 1,163.60 and a beta of 0.77. The business has a 50 day moving average of $10.51 and a 200-day moving average of $8.32. ProPetro has a 12-month low of $4.51 and a 12-month high of $13.25.

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

Institutional Investors Weigh In On ProPetro

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new position in shares of ProPetro in the fourth quarter worth $56,000. Trek Financial LLC bought a new stake in shares of ProPetro during the 3rd quarter valued at $57,000. Dark Forest Capital Management LP purchased a new stake in ProPetro during the 3rd quarter worth about $57,000. MQS Management LLC bought a new position in ProPetro in the 3rd quarter worth about $58,000. Finally, PharVision Advisers LLC purchased a new position in ProPetro during the 2nd quarter valued at about $60,000. Institutional investors own 84.70% of the company’s stock.

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.