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

Shares of ProPetro Holding Corp. (NYSE:PUMP) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.33 and last traded at $17.20, with a volume of 3048451 shares traded. The stock had previously closed at $17.00.

Analysts Set New Price Targets

Several brokerages have issued reports on PUMP. Barclays raised their price objective on shares of ProPetro from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Piper Sandler raised their price objective on shares of ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Bank of America began coverage on shares of ProPetro in a research report on Monday, March 30th. They set a “buy” rating and a $18.00 price objective for the company. Citigroup upgraded shares of ProPetro from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $12.00 to $16.00 in a research report on Wednesday, April 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

ProPetro Trading Up 1.2%

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 1.24. The business’s 50-day moving average price is $13.70 and its two-hundred day moving average price is $11.09. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 1,720.00 and a beta of 0.62.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The company had revenue of $289.68 million during the quarter, compared to the consensus estimate of $279.90 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. Research analysts predict that ProPetro Holding Corp. will post -0.13 earnings per share for the current year.

Institutional Investors Weigh In On ProPetro

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

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.