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

ProPetro (NYSE:PUMP) had its price target increased by stock analysts at Stifel Nicolaus from $11.00 to $12.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 27.69% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Benchmark reissued a “hold” rating on shares of ProPetro in a report on Thursday. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. Finally, Citigroup increased their price target on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.00.

ProPetro Trading Up 4.1 %

Shares of NYSE PUMP opened at $9.40 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31. ProPetro has a 52-week low of $6.53 and a 52-week high of $11.17. The company has a market cap of $967.34 million, a PE ratio of -6.99 and a beta of 1.98. The firm’s 50 day moving average price is $9.50 and its 200-day moving average price is $8.52.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after acquiring an additional 1,225 shares during the last quarter. CWM LLC lifted its stake in shares of ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after acquiring an additional 1,267 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of ProPetro by 2.5% during the fourth quarter. MetLife Investment Management LLC now owns 52,933 shares of the company’s stock valued at $494,000 after purchasing an additional 1,270 shares during the period. Corient Private Wealth LLC lifted its position in shares of ProPetro by 8.7% in the 4th quarter. Corient Private Wealth LLC now owns 17,591 shares of the company’s stock worth $164,000 after purchasing an additional 1,405 shares during the period. Finally, Ieq Capital LLC raised its position in shares of ProPetro by 13.0% in the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock worth $127,000 after acquiring an additional 1,564 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

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.