ProPetro (NYSE:PUMP) Sets New 1-Year High – Here’s Why

ProPetro Holding Corp. (NYSE:PUMP)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $11.77 and last traded at $11.37, with a volume of 238591 shares trading hands. The stock had previously closed at $11.00.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Zacks Research raised shares of ProPetro from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Wolfe Research upgraded shares of ProPetro to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, December 10th. Barclays reissued a “neutral” rating on shares of ProPetro in a research report on Wednesday, December 17th. Finally, JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $7.00 to $13.00 in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.67.

ProPetro Price Performance

The stock has a market capitalization of $1.14 billion, a P/E ratio of -64.37 and a beta of 0.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.19. The company’s 50-day simple moving average is $9.88 and its 200-day simple moving average is $7.40.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.02) earnings per share 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 company had revenue of $293.92 million for the quarter, compared to analyst estimates of $266.25 million. During the same period in the previous year, the business earned ($1.32) EPS. ProPetro’s revenue for the quarter was down 18.6% compared to the same quarter last year. As a group, sell-side analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Michele Vion sold 6,916 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 45,029 shares of the company’s stock, valued at $479,108.56. This trade represents a 13.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director G Larry Lawrence sold 27,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $10.84, for a total value of $292,680.00. Following the transaction, the director directly owned 35,831 shares in the company, valued at $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. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of ProPetro in the second quarter valued at about $60,000. PharVision Advisers LLC bought a new position in ProPetro during the second quarter worth about $60,000. Tower Research Capital LLC TRC raised its stake in ProPetro by 70.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock worth $64,000 after purchasing an additional 4,461 shares in the last quarter. Trek Financial LLC bought a new stake in ProPetro in the 3rd quarter valued at about $57,000. Finally, Dark Forest Capital Management LP bought a new stake in ProPetro in the 3rd quarter valued at about $57,000. Institutional investors own 84.70% of the company’s stock.

ProPetro Company Profile

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.