Barclays Trims ProPetro (NYSE:PUMP) Target Price to $12.00

ProPetro (NYSE:PUMP) had its price target lowered by Barclays from $13.00 to $12.00 in a report released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Separately, Stifel Nicolaus lowered their price objective on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 11th.

ProPetro Price Performance

PUMP opened at $8.17 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.11. The company’s 50-day simple moving average is $7.98 and its two-hundred day simple moving average is $8.51. ProPetro has a 52-week low of $6.74 and a 52-week high of $11.37. The stock has a market capitalization of $879.09 million, a P/E ratio of 12.19 and a beta of 2.02.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The firm had revenue of $357.00 million for the quarter, compared to the consensus estimate of $361.85 million. During the same period in the previous year, the company earned $0.34 earnings per share. ProPetro’s quarterly revenue was down 17.9% compared to the same quarter last year. As a group, analysts predict that ProPetro will post 0.24 EPS for the current year.

Insider Buying and Selling at ProPetro

In related news, Director Michele Vion sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the completion of the transaction, the director now directly owns 34,006 shares in the company, valued at approximately $280,889.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after acquiring an additional 1,473 shares during the period. Quarry LP purchased a new position in ProPetro in the 2nd quarter worth approximately $40,000. nVerses Capital LLC grew its holdings in ProPetro by 226.3% during the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after buying an additional 4,300 shares in the last quarter. CWM LLC lifted its holdings in shares of ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after buying an additional 1,267 shares in the last quarter. Finally, Chilton Capital Management LLC boosted its position in shares of ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.