ProPetro (NYSE:PUMP) Sets New 1-Year High – Still a Buy?

ProPetro Holding Corp. (NYSE:PUMP) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $15.02 and last traded at $14.6450, with a volume of 4391497 shares traded. The stock had previously closed at $14.08.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler lifted their price target on shares of ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, December 10th. JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $7.00 to $13.00 in a research report on Wednesday, December 10th. Finally, Barclays lifted their target price on ProPetro from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, ProPetro currently has an average rating of “Hold” and an average target price of $12.83.

ProPetro Stock Up 4.0%

The firm has a market capitalization of $1.79 billion, a P/E ratio of 1,464.50 and a beta of 0.70. The firm’s 50 day moving average is $11.51 and its two-hundred day moving average is $9.14. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 1.24.

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

Institutional Investors Weigh In On ProPetro

Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in ProPetro during the fourth quarter worth about $111,000. Alpine Global Management LLC acquired a new position in ProPetro during the fourth quarter worth approximately $118,000. Invesco Ltd. raised its stake in ProPetro by 23.4% in the fourth quarter. Invesco Ltd. now owns 407,031 shares of the company’s stock valued at $3,871,000 after buying an additional 77,088 shares during the period. XTX Topco Ltd raised its stake in ProPetro by 52.1% in the fourth quarter. XTX Topco Ltd now owns 178,056 shares of the company’s stock valued at $1,693,000 after buying an additional 60,997 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of ProPetro during the 4th quarter worth approximately $1,235,000. 84.70% of the stock is owned by institutional investors.

About ProPetro

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.