ProPetro Holding Corp. (NYSE:PUMP) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of ProPetro Holding Corp. (NYSE:PUMP) have received an average rating of “Moderate Buy” from the ten analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $18.25.

A number of equities research analysts recently weighed in on the stock. Weiss Ratings lowered shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $14.00 to $23.00 in a research note on Thursday, May 7th. Citigroup increased their price objective on ProPetro from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Odeon Capital Group started coverage on ProPetro in a report on Thursday, May 28th. They issued a “buy” rating on the stock. Finally, Piper Sandler lifted their target price on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, May 18th.

Hedge Funds Weigh In On ProPetro

Large investors have recently bought and sold shares of the stock. Wedge Capital Management L L P NC boosted its holdings in ProPetro by 26.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 143,025 shares of the company’s stock worth $2,051,000 after acquiring an additional 29,745 shares during the last quarter. PKO BP BANKOWY Universal Pension Society JSC raised its holdings in shares of ProPetro by 0.9% in the second quarter. PKO BP BANKOWY Universal Pension Society JSC now owns 870,485 shares of the company’s stock valued at $12,483,000 after purchasing an additional 8,000 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of ProPetro in the second quarter valued at about $18,700,000. Bank of America Corp DE lifted its position in shares of ProPetro by 1.1% during the first quarter. Bank of America Corp DE now owns 719,724 shares of the company’s stock valued at $10,371,000 after purchasing an additional 7,532 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of ProPetro by 80.9% during the first quarter. California State Teachers Retirement System now owns 138,818 shares of the company’s stock valued at $2,000,000 after purchasing an additional 62,090 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

ProPetro Stock Performance

Shares of PUMP stock opened at $11.78 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $14.57 and a two-hundred day simple moving average of $13.61. ProPetro has a 12 month low of $4.51 and a 12 month high of $18.50. The firm has a market capitalization of $1.44 billion, a PE ratio of -107.05 and a beta of 0.72.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. The firm had revenue of $270.69 million for the quarter, compared to analyst estimates of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The business’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. Analysts forecast that ProPetro will post -0.02 EPS for the current fiscal year.

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.