Wolfe Research downgraded shares of ProPetro (NYSE:PUMP) from a peer perform rating to an underperform rating in a research report released on Monday, The Fly reports.
A number of other equities research analysts have also recently commented on the stock. Piper Sandler raised their target price on shares of ProPetro from $5.00 to $8.00 and gave the stock a neutral rating in a research note on Thursday, December 24th. ValuEngine upgraded shares of ProPetro from a buy rating to a strong-buy rating in a research note on Tuesday, December 1st. Barclays restated a hold rating and set a $5.00 target price on shares of ProPetro in a research note on Tuesday, October 6th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of ProPetro to a buy rating and lifted their price objective for the company from $6.00 to $9.00 in a research report on Tuesday, December 15th. Finally, Zacks Investment Research cut shares of ProPetro from a hold rating to a sell rating and set a $5.00 price objective on the stock. in a research report on Tuesday, October 27th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $7.81.
PUMP opened at $7.93 on Monday. The company has a market cap of $800.24 million, a price-to-earnings ratio of 37.76 and a beta of 3.35. The company’s 50 day moving average is $7.62 and its 200 day moving average is $5.75. ProPetro has a 12-month low of $1.36 and a 12-month high of $11.70.
ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). ProPetro had a return on equity of 5.76% and a net margin of 1.58%. The business had revenue of $133.71 million during the quarter, compared to analysts’ expectations of $137.38 million. As a group, research analysts predict that ProPetro will post -0.5 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership increased its position in ProPetro by 10,255.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,273,665 shares of the company’s stock worth $5,171,000 after purchasing an additional 1,261,365 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in ProPetro by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 840,793 shares of the company’s stock worth $3,414,000 after buying an additional 80,063 shares during the period. AJO LP boosted its stake in ProPetro by 77.3% during the third quarter. AJO LP now owns 793,848 shares of the company’s stock worth $3,223,000 after buying an additional 346,043 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in ProPetro during the third quarter worth $1,417,000. Finally, Nisa Investment Advisors LLC boosted its stake in ProPetro by 10.4% during the third quarter. Nisa Investment Advisors LLC now owns 132,680 shares of the company’s stock worth $539,000 after buying an additional 12,500 shares during the period. Institutional investors own 75.95% of the company’s stock.
ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company offers hydraulic fracturing services; and a suite of well completion and production services, including cementing, acidizing, coiled tubing, flowback, and drilling services. It serves the upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources in the Permian Basin.
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