JPMorgan Chase & Co. Has Lowered Expectations for ProPetro (NYSE:PUMP) Stock Price

ProPetro (NYSE:PUMP - Get Free Report) had its price objective cut by JPMorgan Chase & Co. from $8.00 to $7.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 26.45% from the stock's current price.

Several other equities analysts have also issued reports on PUMP. Stifel Nicolaus decreased their price target on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Barclays cut their target price on ProPetro from $12.00 to $11.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Finally, Benchmark restated a "hold" rating on shares of ProPetro in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $9.75.

ProPetro Trading Down 2.2%

PUMP stock traded down $0.12 during trading on Wednesday, hitting $5.54. The company had a trading volume of 223,989 shares, compared to its average volume of 1,710,938. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. ProPetro has a 12 month low of $4.61 and a 12 month high of $11.17. The stock has a market cap of $575.25 million, a price-to-earnings ratio of -4.13 and a beta of 1.19. The firm has a 50-day moving average price of $5.79 and a 200-day moving average price of $7.75.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. ProPetro had a negative net margin of 9.55% and a positive return on equity of 3.20%. The firm had revenue of $359.42 million for the quarter, compared to analysts' expectations of $344.36 million. During the same period last year, the firm earned $0.18 earnings per share. The business's revenue for the quarter was down 11.4% on a year-over-year basis. As a group, analysts predict that ProPetro will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PUMP. Jane Street Group LLC lifted its holdings in shares of ProPetro by 1.4% during the first quarter. Jane Street Group LLC now owns 224,275 shares of the company's stock worth $1,648,000 after buying an additional 3,100 shares in the last quarter. Empowered Funds LLC increased its stake in shares of ProPetro by 2.1% in the 1st quarter. Empowered Funds LLC now owns 566,287 shares of the company's stock valued at $4,162,000 after purchasing an additional 11,414 shares during the last quarter. Caxton Associates LLP acquired a new stake in ProPetro in the first quarter valued at about $272,000. Goldman Sachs Group Inc. increased its position in ProPetro by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company's stock worth $4,483,000 after purchasing an additional 21,519 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in shares of ProPetro by 16,264.8% in the 1st quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company's stock valued at $198,000 after acquiring an additional 26,837 shares during the last quarter. Institutional investors and hedge funds 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.

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