ProPetro (NYSE:PUMP) Given New $12.00 Price Target at Stifel Nicolaus

ProPetro (NYSE:PUMP) had its target price lifted by Stifel Nicolaus from $11.00 to $12.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

PUMP has been the topic of several other reports. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a research report on Thursday. JPMorgan Chase & Co. raised 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. Finally, Citigroup upped their price objective on ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research 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, the company presently has an average rating of “Hold” and an average price target of $11.00.

ProPetro Stock Performance

Shares of PUMP opened at $9.12 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $9.50 and its 200-day moving average price is $8.52. ProPetro has a 52 week low of $6.53 and a 52 week high of $11.17. The stock has a market cap of $938.21 million, a P/E ratio of -6.80 and a beta of 1.98.

Hedge Funds Weigh In On ProPetro

Hedge funds and other institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC lifted its holdings in shares of 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 buying an additional 2,005 shares during the period. GAMMA Investing LLC lifted its holdings in shares of ProPetro by 38.0% during the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after buying an additional 1,225 shares during the period. KBC Group NV lifted its holdings in shares of ProPetro by 90.5% during the 4th quarter. KBC Group NV now owns 8,045 shares of the company’s stock valued at $75,000 after buying an additional 3,821 shares during the period. CWM LLC lifted its holdings in shares of 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 buying an additional 1,267 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ProPetro during the 3rd quarter valued at $77,000. 84.70% of the stock is owned by 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.