ProPetro (NYSE:PUMP) Hits New 1-Year High – What’s Next?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $10.64 and last traded at $10.60, with a volume of 138820 shares. The stock had previously closed at $10.28.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Citigroup upped their price target on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Stifel Nicolaus dropped their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Barclays reduced their target price on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.75.

ProPetro Stock Up 1.5 %

The business has a fifty day moving average price of $8.76 and a two-hundred day moving average price of $8.32. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -7.84 and a beta of 2.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14.

Insider Buying and Selling at ProPetro

In related news, CFO David Scott Schorlemer acquired 4,500 shares of the stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the transaction, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On ProPetro

Large investors have recently made changes to their positions in the stock. Barclays PLC lifted its position in ProPetro by 109.2% in the third quarter. Barclays PLC now owns 242,057 shares of the company’s stock valued at $1,855,000 after buying an additional 126,346 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in ProPetro by 209.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 272,374 shares of the company’s stock worth $2,115,000 after acquiring an additional 184,273 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of ProPetro during the third quarter worth about $3,525,000. Pacer Advisors Inc. boosted its stake in shares of ProPetro by 95.4% in the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock valued at $54,790,000 after purchasing an additional 3,491,723 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new position in shares of ProPetro in the third quarter valued at approximately $1,013,000. 84.70% of the stock is currently owned by hedge funds and other 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.