ProPetro (NYSE:PUMP) Earns “Hold” Rating from Benchmark

ProPetro (NYSE:PUMP)‘s stock had its “hold” rating reiterated by analysts at Benchmark in a report issued on Thursday,Benzinga reports.

Several other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a research report on Friday, December 6th. Citigroup increased their price target 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.75.

ProPetro Stock Up 1.5 %

NYSE:PUMP traded up $0.13 during mid-day trading on Thursday, hitting $8.95. 139,415 shares of the company’s stock traded hands, compared to its average volume of 1,355,499. ProPetro has a twelve month low of $6.53 and a twelve month high of $11.17. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. The company has a market capitalization of $921.33 million, a P/E ratio of -6.72 and a beta of 1.98. The company has a fifty day moving average of $9.51 and a 200 day moving average of $8.51.

Hedge Funds Weigh In On ProPetro

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in ProPetro by 205.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after acquiring an additional 2,005 shares in the last quarter. GAMMA Investing LLC increased its position in ProPetro by 38.0% during the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after purchasing an additional 1,225 shares during the last quarter. CWM LLC raised its stake in ProPetro by 17.2% during the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after purchasing an additional 1,267 shares during the period. KBC Group NV boosted its holdings in ProPetro by 90.5% in the 4th quarter. KBC Group NV now owns 8,045 shares of the company’s stock valued at $75,000 after purchasing an additional 3,821 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ProPetro in the 3rd quarter valued at approximately $77,000. 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.