ProPetro (NYSE:PUMP) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of ProPetro (NYSE:PUMP) from a hold rating to a sell rating in a report published on Saturday.

PUMP has been the topic of a number of other reports. Piper Sandler lowered their price target on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Friday, July 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a research report on Wednesday, June 3rd. Barclays lowered their target price on shares of ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Finally, Odeon Capital Group started coverage on ProPetro in a research report on Thursday, May 28th. They set a “buy” rating on the stock. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.12.

ProPetro Trading Down 2.4%

ProPetro stock opened at $10.91 on Friday. The company has a current ratio of 4.09, a quick ratio of 4.00 and a debt-to-equity ratio of 0.80. ProPetro has a 12 month low of $4.52 and a 12 month high of $18.50. The stock’s 50 day simple moving average is $12.28 and its two-hundred day simple moving average is $13.74. The firm has a market cap of $1.34 billion, a PE ratio of -99.18 and a beta of 0.77.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The firm had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.ProPetro’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) EPS. Analysts anticipate that ProPetro will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, Director G Larry Lawrence sold 35,831 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total value of $399,873.96. Following the completion of the sale, the director owned 28,181 shares of the company’s stock, valued at approximately $314,499.96. The trade was a 55.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Munoz sold 70,696 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total transaction of $789,674.32. Following the completion of the sale, the chief operating officer directly owned 148,691 shares of the company’s stock, valued at approximately $1,660,878.47. The trade was a 32.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.55% of the company’s stock.

Institutional Trading of ProPetro

Several institutional investors have recently modified their holdings of PUMP. Assenagon Asset Management S.A. acquired a new stake in shares of ProPetro in the second quarter worth approximately $18,700,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of ProPetro during the first quarter worth approximately $2,045,000. Jefferies Financial Group Inc. acquired a new position in ProPetro in the 4th quarter valued at $3,085,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in ProPetro by 561.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,653,600 shares of the company’s stock valued at $23,828,000 after purchasing an additional 1,403,600 shares during the last quarter. Finally, Sei Investments Co. raised its stake in ProPetro by 113.7% in the 1st quarter. Sei Investments Co. now owns 534,059 shares of the company’s stock valued at $7,696,000 after purchasing an additional 284,109 shares during the last quarter. 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.