Stifel Nicolaus Boosts ProPetro (NYSE:PUMP) Price Target to $12.00

ProPetro (NYSE:PUMP) had its target price hoisted by Stifel Nicolaus from $11.00 to $12.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 27.69% from the stock’s previous close.

Several other research firms have also commented on PUMP. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a report on Thursday. Citigroup upped their target price on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target for the company in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.00.

ProPetro Stock Performance

PUMP opened at $9.40 on Friday. The company has a market cap of $967.34 million, a P/E ratio of -6.99 and a beta of 1.98. ProPetro has a 52-week low of $6.53 and a 52-week high of $11.17. 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 firm’s 50-day moving average price is $9.50 and its 200-day moving average price is $8.52.

Hedge Funds Weigh In On ProPetro

Several hedge funds and other institutional investors have recently made changes to their positions in PUMP. Smartleaf Asset Management LLC increased its position in shares of ProPetro by 205.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after purchasing an additional 2,005 shares in the last quarter. GAMMA Investing LLC boosted its stake in ProPetro by 38.0% during the 4th 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. KBC Group NV grew its holdings in shares of ProPetro by 90.5% during the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after buying an additional 3,821 shares in the last quarter. CWM LLC raised its position in shares of 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 buying an additional 1,267 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in ProPetro in the 3rd quarter worth approximately $77,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.