ProPetro Holding Corp. (NYSE:PUMP) Receives Consensus Rating of “Hold” from Brokerages

ProPetro Holding Corp. (NYSE:PUMP) has earned a consensus rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $11.00.

PUMP has been the topic of several research analyst reports. Citigroup upped their price objective on ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Barclays increased their price target on ProPetro from $5.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, November 3rd. Zacks Research upgraded ProPetro from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Thursday. Finally, Piper Sandler upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 target price for the company in a research note on Monday, November 3rd.

ProPetro Price Performance

PUMP opened at $9.92 on Monday. ProPetro has a fifty-two week low of $4.51 and a fifty-two week high of $11.66. The firm has a 50-day moving average of $6.72 and a 200 day moving average of $6.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.35 and a current ratio of 1.26. The firm has a market cap of $1.03 billion, a P/E ratio of -58.32 and a beta of 1.07.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.09. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. The business had revenue of $293.92 million for the quarter, compared to analyst estimates of $266.25 million. During the same quarter in the previous year, the firm posted ($1.32) earnings per share. The company’s revenue for the quarter was down 18.6% on a year-over-year basis. On average, research analysts expect that ProPetro will post 0.25 EPS for the current year.

Insider Buying and Selling

In other news, Director Michele Vion sold 6,916 shares of ProPetro stock in a transaction on Friday, October 31st. The stock was sold at an average price of $10.64, for a total value of $73,586.24. Following the completion of the transaction, the director directly owned 45,029 shares in the company, valued at approximately $479,108.56. The trade was a 13.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Larry Lawrence sold 27,000 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $10.84, for a total value of $292,680.00. Following the sale, the director owned 35,831 shares in the company, valued at approximately $388,408.04. The trade was a 42.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Sourcerock Group LLC increased its position in shares of ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after buying an additional 3,355,848 shares during the period. Philosophy Capital Management LLC increased its holdings in ProPetro by 14.8% during the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock worth $21,208,000 after acquiring an additional 520,327 shares during the period. American Century Companies Inc. increased its holdings in ProPetro by 5.4% during the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock worth $19,644,000 after acquiring an additional 192,638 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in ProPetro by 209.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock worth $14,170,000 after purchasing an additional 1,830,399 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in ProPetro by 103.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock valued at $8,636,000 after purchasing an additional 837,776 shares during the period. 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.