ProPetro (NYSE:PUMP) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of ProPetro (NYSE:PUMP) in a research report released on Monday, Marketbeat reports. The firm issued a buy rating and a $18.00 price target on the stock.

Several other equities research analysts have also recently commented on PUMP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, December 10th. Piper Sandler increased their price target on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $7.00 to $13.00 in a research report on Wednesday, December 10th. Finally, Barclays boosted their target price on shares of ProPetro from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.57.

ProPetro Price Performance

PUMP stock opened at $14.71 on Monday. 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 firm has a market cap of $1.79 billion, a price-to-earnings ratio of 1,470.50 and a beta of 0.70. The company’s fifty day simple moving average is $12.38 and its 200 day simple moving average is $9.77. ProPetro has a 12-month low of $4.51 and a 12-month high of $15.49.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The firm had revenue of $289.68 million during the quarter, compared to the consensus estimate of $279.90 million. During the same period last year, the business posted ($0.17) EPS. The business’s revenue was down 9.6% compared to the same quarter last year. On average, analysts expect that ProPetro will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On ProPetro

A number of hedge funds have recently added to or reduced their stakes in PUMP. Caitong International Asset Management Co. Ltd bought a new stake in shares of ProPetro during the fourth quarter valued at approximately $111,000. Alpine Global Management LLC acquired a new position in shares of ProPetro during the fourth quarter worth approximately $118,000. Invesco Ltd. lifted its holdings in shares of ProPetro by 23.4% in the 4th quarter. Invesco Ltd. now owns 407,031 shares of the company’s stock worth $3,871,000 after purchasing an additional 77,088 shares in the last quarter. XTX Topco Ltd lifted its holdings in shares of ProPetro by 52.1% in the 4th quarter. XTX Topco Ltd now owns 178,056 shares of the company’s stock worth $1,693,000 after purchasing an additional 60,997 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in ProPetro in the 4th quarter valued at $1,235,000. Institutional investors and hedge funds 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.