The Goldman Sachs Group Initiates Coverage on ProPetro (NYSE:PUMP)

Research analysts at The Goldman Sachs Group initiated coverage on shares of ProPetro (NYSE:PUMP) in a note issued to investors on Friday, MarketBeat Ratings reports. The firm set a “neutral” rating and a $15.00 price target on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 8.74% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Barclays boosted their price target on shares of ProPetro from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Thursday. Bank of America began coverage on shares of ProPetro in a report on Monday, March 30th. They issued a “buy” rating and a $18.00 price target on the stock. Piper Sandler lifted their price objective on ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Five equities 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.00.

ProPetro Trading Up 1.1%

ProPetro stock opened at $13.80 on Friday. The business has a 50 day moving average price of $12.90 and a two-hundred day moving average price of $10.30. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 1,379.50 and a beta of 0.62. ProPetro has a 12 month low of $4.51 and a 12 month high of $15.49.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.14. The firm had revenue of $289.68 million during the quarter, compared to analysts’ expectations of $279.90 million. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The company’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) EPS. As a group, equities analysts forecast that ProPetro will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new position in shares of ProPetro during the fourth quarter valued at $56,000. Trek Financial LLC acquired a new stake in shares of ProPetro during the third quarter worth approximately $57,000. Dark Forest Capital Management LP acquired a new stake in shares of ProPetro during the third quarter worth approximately $57,000. MQS Management LLC acquired a new stake in shares of ProPetro during the third quarter worth approximately $58,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of ProPetro during the second quarter worth approximately $60,000. 84.70% of the stock is owned by institutional investors.

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.