ProPetro (NYSE:PUMP) Hits New 52-Week High on Better-Than-Expected Earnings

ProPetro Holding Corp. (NYSE:PUMP) shares hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $13.25 and last traded at $11.2790, with a volume of 5083106 shares traded. The stock had previously closed at $12.01.

The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The company had revenue of $289.68 million during the quarter, compared to analysts’ expectations of $279.90 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. ProPetro’s revenue for the quarter was down 9.6% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PUMP shares. Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, December 10th. JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Citigroup boosted their price objective on ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Piper Sandler increased 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, Barclays reissued a “neutral” rating on shares of ProPetro in a research note on Wednesday, December 17th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ProPetro has an average rating of “Hold” and a consensus target price of $12.67.

Institutional Investors Weigh In On ProPetro

Hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of ProPetro in the 4th quarter worth $56,000. Trek Financial LLC bought a new position in shares of ProPetro in the 3rd quarter valued at about $57,000. Dark Forest Capital Management LP purchased a new position in ProPetro in the third quarter worth about $57,000. MQS Management LLC purchased a new position in ProPetro in the third quarter worth about $58,000. Finally, PharVision Advisers LLC bought a new stake in ProPetro during the second quarter worth approximately $60,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

ProPetro Stock Performance

The firm has a market capitalization of $1.17 billion, a PE ratio of 1,123.20 and a beta of 0.77. The business has a 50-day simple moving average of $10.41 and a 200-day simple moving average of $8.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 1.19.

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.