ProPetro (NYSE:PUMP) Reaches New 12-Month Low – What’s Next?

Shares of ProPetro Holding Corp. (NYSE:PUMP) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.48 and last traded at $6.51, with a volume of 990564 shares trading hands. The stock had previously closed at $7.59.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 target price for the company in a report on Friday, December 6th. Benchmark reiterated a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Stifel Nicolaus lifted their price objective on shares of ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Citigroup increased their target price on shares of ProPetro from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Finally, Barclays cut their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, ProPetro presently has an average rating of “Hold” and an average target price of $10.75.

ProPetro Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. The firm has a market cap of $542.15 million, a price-to-earnings ratio of -3.92 and a beta of 1.58. The firm has a fifty day simple moving average of $8.02 and a two-hundred day simple moving average of $8.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PUMP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ProPetro by 16.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 228,835 shares of the company’s stock valued at $2,135,000 after acquiring an additional 32,710 shares during the period. Voloridge Investment Management LLC purchased a new stake in ProPetro during the 4th quarter valued at about $533,000. Waverly Advisors LLC acquired a new position in shares of ProPetro in the fourth quarter valued at about $115,000. Sourcerock Group LLC purchased a new position in shares of ProPetro in the fourth quarter worth about $14,079,000. Finally, Squarepoint Ops LLC acquired a new stake in shares of ProPetro during the fourth quarter worth about $2,024,000. 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.