Barclays Increases ProPetro (NYSE:PUMP) Price Target to $13.00

ProPetro (NYSE:PUMP - Free Report) had its price target increased by Barclays from $12.00 to $13.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms have also weighed in on PUMP. Benchmark reiterated a hold rating on shares of ProPetro in a research note on Thursday. TheStreet downgraded shares of ProPetro from a b- rating to a c+ rating in a report on Monday, January 8th. Two analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $13.33.

ProPetro Stock Up 3.3 %

Shares of PUMP traded up $0.31 on Monday, hitting $9.60. 1,634,865 shares of the stock traded hands, compared to its average volume of 1,592,803. ProPetro has a one year low of $6.47 and a one year high of $11.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.12 and a current ratio of 1.18. The business has a 50 day simple moving average of $8.06 and a 200 day simple moving average of $8.48. The company has a market capitalization of $1.03 billion, a PE ratio of 14.33 and a beta of 2.09.

ProPetro (NYSE:PUMP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.08 by $0.10. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. The company had revenue of $405.84 million for the quarter, compared to the consensus estimate of $393.11 million. During the same period in the prior year, the firm posted $0.40 EPS. The firm's revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts forecast that ProPetro will post 0.56 earnings per share for the current fiscal year.

Insider Activity

In other ProPetro news, COO Adam Munoz sold 42,573 shares of the firm's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $9.28, for a total transaction of $395,077.44. Following the sale, the chief operating officer now directly owns 58,134 shares of the company's stock, valued at approximately $539,483.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.88% of the company's stock.

Hedge Funds Weigh In On ProPetro

A number of hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in ProPetro by 47.1% in the fourth quarter. Signaturefd LLC now owns 7,935 shares of the company's stock worth $66,000 after acquiring an additional 2,542 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in ProPetro during the 4th quarter valued at about $90,000. Versor Investments LP purchased a new position in ProPetro during the 3rd quarter valued at about $129,000. Quadrant Capital Group LLC grew its stake in ProPetro by 60.0% during the 4th quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company's stock valued at $102,000 after acquiring an additional 4,550 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in ProPetro during the 4th quarter valued at about $102,000. 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.