ProPetro (NYSE:PUMP) Given New $11.00 Price Target at Stifel Nicolaus

ProPetro (NYSE:PUMP) had its target price trimmed by Stifel Nicolaus from $12.00 to $11.00 in a research report sent to investors on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

ProPetro Stock Down 1.4 %

PUMP opened at $8.27 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.11. The company has a market capitalization of $889.31 million, a PE ratio of 12.28 and a beta of 2.02. The stock’s fifty day moving average is $7.98 and its 200-day moving average is $8.51. ProPetro has a one year low of $6.74 and a one year high of $11.37.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The business had revenue of $357.00 million during the quarter, compared to the consensus estimate of $361.85 million. ProPetro had a return on equity of 3.39% and a net margin of 2.21%. ProPetro’s revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, equities analysts predict that ProPetro will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at ProPetro

In other news, Director Michele Vion sold 5,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the completion of the sale, the director now directly owns 34,006 shares of the company’s stock, valued at $280,889.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ProPetro

Several hedge funds have recently made changes to their positions in PUMP. Pacer Advisors Inc. acquired a new stake in ProPetro during the 2nd quarter worth about $31,741,000. Dana Investment Advisors Inc. acquired a new stake in shares of ProPetro during the 2nd quarter valued at $6,439,000. American Century Companies Inc. boosted its stake in shares of ProPetro by 21.3% during the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock valued at $21,810,000 after buying an additional 441,644 shares during the period. Hartree Partners LP purchased a new position in shares of ProPetro during the 1st quarter valued at $3,259,000. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of ProPetro by 441.7% in the second quarter. Susquehanna Fundamental Investments LLC now owns 303,971 shares of the company’s stock worth $2,635,000 after acquiring an additional 247,860 shares during 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.