ProPetro (NYSE:PUMP) Shares Gap Up – Still a Buy?

ProPetro Holding Corp. (NYSE:PUMP)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $5.19, but opened at $5.38. ProPetro shares last traded at $5.37, with a volume of 148,055 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Stifel Nicolaus upped their price target on ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Barclays lowered their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Finally, Citigroup upped their target price on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.75.

ProPetro Stock Performance

The company has a market capitalization of $560.02 million, a P/E ratio of -4.03 and a beta of 1.58. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average is $7.10 and its two-hundred day moving average is $8.18.

Institutional Trading of ProPetro

Hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in ProPetro by 205.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after purchasing an additional 2,005 shares in the last quarter. GAMMA Investing LLC lifted its position in 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 buying an additional 1,225 shares during the last quarter. KBC Group NV boosted its stake in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after buying an additional 3,821 shares in the last quarter. Raymond James Financial Inc. bought a new position in ProPetro during the fourth quarter valued at approximately $94,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of ProPetro by 101.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company’s stock valued at $98,000 after purchasing an additional 5,270 shares in the last quarter. 84.70% of the stock is owned by institutional investors.

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.