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

ProPetro Holding Corp. (NYSE:PUMP)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $15.53 and last traded at $15.44, with a volume of 375867 shares trading hands. The stock had previously closed at $15.08.

Analyst Ratings Changes

Several research firms have recently commented on PUMP. The Goldman Sachs Group began coverage on ProPetro in a report on Friday, April 10th. They set a “neutral” rating and a $15.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Citigroup raised shares of ProPetro from a “neutral” rating to a “buy” rating and raised their price objective for the company from $12.00 to $16.00 in a research note on Wednesday, April 15th. Bank of America initiated coverage on shares of ProPetro in a research report on Monday, March 30th. They set a “buy” rating and a $18.00 target price for the company. Finally, Barclays upped their target price on shares of ProPetro from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ProPetro has an average rating of “Moderate Buy” and a consensus price target of $14.50.

ProPetro Trading Up 2.7%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.29. The firm has a market capitalization of $1.90 billion, a P/E ratio of 1,545.60 and a beta of 0.62. The firm has a 50 day simple moving average of $13.31 and a two-hundred day simple moving average of $10.77.

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 for the quarter, compared to analyst estimates of $279.90 million. During the same period last year, the firm earned ($0.17) earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. Equities research analysts forecast that ProPetro Holding Corp. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new stake in ProPetro during the third quarter worth about $2,280,000. American Century Companies Inc. lifted its position in shares of ProPetro by 5.4% during the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock valued at $19,644,000 after buying an additional 192,638 shares during the last quarter. Squarepoint Ops LLC raised its stake in ProPetro by 127.3% in the 2nd quarter. Squarepoint Ops LLC now owns 102,166 shares of the company’s stock valued at $610,000 after acquiring an additional 57,226 shares during the period. Y Intercept Hong Kong Ltd bought a new position in ProPetro during the third quarter worth about $1,569,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of ProPetro by 103.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock valued at $8,636,000 after buying an additional 837,776 shares in the last quarter. 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.