ProPetro (NYSE:PUMP) Stock Price Down 7.8% – What’s Next?

Shares of ProPetro Holding Corp. (NYSE:PUMP) dropped 7.8% on Thursday . The company traded as low as $12.56 and last traded at $12.5350. Approximately 1,604,316 shares changed hands during trading, a decline of 59% from the average session volume of 3,925,460 shares. The stock had previously closed at $13.59.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays upgraded shares of ProPetro from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $14.00 to $23.00 in a report on Thursday, May 7th. Piper Sandler raised their price target on shares of ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Weiss Ratings downgraded shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.00 price objective on shares of ProPetro in a research note on Wednesday, June 3rd. Finally, Citigroup increased their target price on shares of ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

ProPetro Stock Down 4.3%

The company has a 50-day moving average of $14.57 and a 200-day moving average of $13.61. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -107.05 and a beta of 0.72.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.09. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The business had revenue of $270.69 million during the quarter, compared to the consensus estimate of $277.49 million. During the same quarter last year, the company earned $0.09 earnings per share. The company’s quarterly revenue was down 24.6% on a year-over-year basis. On average, equities analysts predict that ProPetro Holding Corp. will post -0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProPetro

A number of large investors have recently bought and sold shares of the company. Sourcerock Group LLC raised its position in ProPetro by 66.4% during 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. Dimensional Fund Advisors LP boosted its holdings in shares of ProPetro by 14.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock valued at $93,408,000 after acquiring an additional 831,823 shares during the last quarter. Philosophy Capital Management LLC increased its stake in shares of ProPetro by 14.8% in the third quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock worth $21,208,000 after acquiring an additional 520,327 shares during the period. VR Advisory Services Ltd increased its stake in shares of ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after acquiring an additional 2,504,634 shares during the period. Finally, Valiant Capital Management L.P. purchased a new position in shares of ProPetro during the fourth quarter worth $34,890,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.