ProPetro’s (PUMP) “Hold” Rating Reaffirmed at Benchmark

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

PUMP has been the topic of several other reports. JPMorgan Chase & Co. raised shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price on the stock in a research note on Friday, December 6th. Citigroup upped their price objective on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, ProPetro currently has an average rating of “Hold” and an average price target of $10.75.

ProPetro Trading Up 1.5 %

NYSE:PUMP traded up $0.13 during trading hours on Thursday, reaching $8.95. 139,415 shares of the stock were exchanged, compared to its average volume of 1,355,499. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $921.33 million, a price-to-earnings ratio of -6.72 and a beta of 1.98. ProPetro has a twelve month low of $6.53 and a twelve month high of $11.17. The business has a 50-day moving average of $9.51 and a two-hundred day moving average of $8.51.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of ProPetro by 205.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after purchasing an additional 2,005 shares during the last quarter. GAMMA Investing LLC grew its position in shares of 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 acquiring an additional 1,225 shares during the last quarter. CWM LLC increased its stake in ProPetro by 17.2% in the third quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after purchasing an additional 1,267 shares during the period. KBC Group NV raised its holdings in shares of ProPetro by 90.5% in the fourth 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 last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ProPetro during the third quarter worth about $77,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

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.