Analysts Set ProPetro Holding Corp. (NYSE:PUMP) Target Price at $8.80

Key Points

• ProPetro Holding Corp. has received a consensus rating of "Hold" from six research firms, with a target price average of $8.80.
• The company's recent earnings report revealed an EPS of (−$0.07), falling short of estimates and marking a 9.2% decline in revenue year-over-year.
• Institutional investors own 84.70% of ProPetro's shares, highlighting significant interest from large asset managers in the stock.

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) has been assigned an average rating of "Hold" from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $8.80.

Several analysts have commented on PUMP shares. JPMorgan Chase & Co. lowered their price objective on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Piper Sandler lowered their price target on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Zacks Research lowered shares of ProPetro from a "hold" rating to a "strong sell" rating in a research report on Monday, September 1st. Finally, Stifel Nicolaus set a $10.00 price target on shares of ProPetro and gave the company a "buy" rating in a research report on Wednesday, July 16th.

ProPetro Stock Down 3.7%

Shares of PUMP traded down $0.19 during trading hours on Wednesday, reaching $4.76. 1,616,413 shares of the stock traded hands, compared to its average volume of 1,679,739. The company has a current ratio of 1.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $5.45 and a 200 day simple moving average of $5.97. ProPetro has a 52 week low of $4.51 and a 52 week high of $11.17. The company has a market cap of $494.38 million, a price-to-earnings ratio of -3.23 and a beta of 1.13.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). The company had revenue of $326.15 million during the quarter, compared to the consensus estimate of $331.26 million. ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.The business's revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) EPS. On average, equities analysts forecast that ProPetro will post 0.25 EPS for the current year.

Hedge Funds Weigh In On ProPetro

Several hedge funds have recently bought and sold shares of PUMP. Sourcerock Group LLC grew its stake in ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company's stock valued at $50,198,000 after acquiring an additional 3,355,848 shares in the last quarter. Nuveen LLC purchased a new position in ProPetro during the first quarter valued at approximately $11,757,000. VR Advisory Services Ltd purchased a new position in ProPetro during the first quarter valued at approximately $8,634,000. Pacer Advisors Inc. purchased a new position in ProPetro during the first quarter valued at approximately $7,401,000. Finally, Philosophy Capital Management LLC grew its stake in ProPetro by 23.2% during the first quarter. Philosophy Capital Management LLC now owns 2,820,887 shares of the company's stock valued at $20,734,000 after acquiring an additional 531,751 shares in the last quarter. Hedge funds and other institutional investors 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.