ProPetro (NYSE:PUMP) Given New $14.00 Price Target at Barclays

ProPetro (NYSE:PUMP) had its price objective raised by equities research analysts at Barclays from $12.00 to $14.00 in a report released on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 0.70% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price target on the stock in a report on Wednesday, December 10th. Piper Sandler boosted 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. Bank of America started coverage on ProPetro in a research note on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.86.

ProPetro Stock Up 1.9%

PUMP stock opened at $14.10 on Thursday. The business’s 50-day moving average price is $12.81 and its 200-day moving average price is $10.18. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. ProPetro has a twelve month low of $4.51 and a twelve month high of $15.49. The stock has a market cap of $1.72 billion, a P/E ratio of 1,405.80 and a beta of 0.62.

ProPetro (NYSE:PUMP) last posted 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 company had revenue of $289.68 million for the quarter, compared to analysts’ expectations of $279.90 million. During the same period in the previous year, the firm earned ($0.17) EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts forecast that ProPetro will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PUMP. Valiant Capital Management L.P. acquired a new position in shares of ProPetro in the fourth quarter valued at about $34,890,000. Sourcerock Group LLC grew its holdings in ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after acquiring an additional 3,355,848 shares during the period. VR Advisory Services Ltd grew its holdings in ProPetro by 213.2% during the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after acquiring an additional 2,504,634 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in ProPetro by 209.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock worth $14,170,000 after purchasing an additional 1,830,399 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of ProPetro by 382.7% in the third quarter. Millennium Management LLC now owns 2,215,896 shares of the company’s stock valued at $11,611,000 after acquiring an additional 1,756,812 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Company Profile

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.