ProPetro (NYSE:PUMP) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of ProPetro (NYSE:PUMP) from an underweight rating to a neutral rating in a research note released on Friday morning, Marketbeat.com reports. They currently have $10.00 price objective on the stock.

A number of other research analysts also recently commented on PUMP. Citigroup reduced their target price on ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus decreased their price objective on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 11th. Finally, Barclays lowered their target price on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $10.25.

ProPetro Price Performance

Shares of PUMP stock opened at $7.91 on Friday. The firm has a fifty day moving average of $7.96 and a two-hundred day moving average of $8.24. The firm has a market cap of $814.18 million, a P/E ratio of -5.95 and a beta of 2.07. ProPetro has a 1-year low of $6.53 and a 1-year high of $10.02. 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

In other news, CFO David Scott Schorlemer acquired 4,500 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $6.86 per share, with a total value of $30,870.00. Following the acquisition, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $775,125.12. The trade was a 4.15 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after buying an additional 1,473 shares during the last quarter. Quarry LP acquired a new stake in ProPetro in the 2nd quarter valued at approximately $40,000. nVerses Capital LLC increased its position in ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after acquiring an additional 4,300 shares during the period. CWM LLC raised its stake in ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after acquiring an additional 1,267 shares in the last quarter. Finally, Chilton Capital Management LLC boosted its position in ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after acquiring an additional 4,000 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Company Profile

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.