ProPetro (NYSE:PUMP) Reaches New 12-Month High – Here’s Why

ProPetro Holding Corp. (NYSE:PUMP)’s share price hit a new 52-week high on Thursday . The company traded as high as $11.87 and last traded at $11.58, with a volume of 1668987 shares trading hands. The stock had previously closed at $10.66.

Analysts Set New Price Targets

A number of analysts have commented on PUMP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $7.00 to $13.00 in a research report on Wednesday, December 10th. Barclays reaffirmed a “neutral” rating on shares of ProPetro in a report on Wednesday, December 17th. Piper Sandler raised their target price on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Finally, Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price target on the stock in a research report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ProPetro presently has an average rating of “Hold” and a consensus target price of $12.67.

ProPetro Price Performance

The firm has a market capitalization of $1.19 billion, a PE ratio of -67.29 and a beta of 0.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.19. The business’s 50 day moving average is $9.95 and its two-hundred day moving average is $7.49.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.09. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. The firm had revenue of $293.92 million for the quarter, compared to analysts’ expectations of $266.25 million. During the same quarter last year, the company posted ($1.32) EPS. The business’s quarterly revenue was down 18.6% on a year-over-year basis. As a group, research analysts anticipate that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Insider Activity

In related news, Director Michele Vion sold 6,916 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $10.64, for a total transaction of $73,586.24. Following the completion of the sale, the director directly owned 45,029 shares in the company, valued at $479,108.56. This represents a 13.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director G Larry Lawrence sold 27,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $10.84, for a total value of $292,680.00. Following the completion of the sale, the director directly owned 35,831 shares in the company, valued at $388,408.04. The trade was a 42.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On ProPetro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PUMP. Sourcerock Group LLC grew its stake in shares of ProPetro by 66.4% in the 2nd quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after buying an additional 3,355,848 shares during the last quarter. Philosophy Capital Management LLC grew its position in ProPetro by 14.8% in the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock worth $21,208,000 after purchasing an additional 520,327 shares during the period. American Century Companies Inc. lifted its holdings 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 period. VR Advisory Services Ltd increased its position in ProPetro by 213.2% during the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after acquiring an additional 2,504,634 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in ProPetro by 209.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock valued at $14,170,000 after acquiring an additional 1,830,399 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

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.