ProPetro (NYSE:PUMP) Trading Down 4.5% – What’s Next?

ProPetro Holding Corp. (NYSE:PUMP) shares were down 4.5% during mid-day trading on Wednesday . The stock traded as low as $11.31 and last traded at $11.4750. Approximately 2,418,583 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 3,054,761 shares. The stock had previously closed at $12.01.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PUMP. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $7.00 to $13.00 in a report on Wednesday, December 10th. Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 target price for the company in a research note on Wednesday, December 10th. Piper Sandler upped their target price on shares of ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Finally, Zacks Research raised shares of ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.67.

ProPetro Stock Down 6.1%

The firm has a market cap of $1.17 billion, a PE ratio of -66.34 and a beta of 0.77. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. The stock has a fifty day simple moving average of $10.38 and a two-hundred day simple moving average of $8.07.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.14. ProPetro had a negative net margin of 1.31% and a negative return on equity 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 previous year, the company earned ($0.17) earnings per share. ProPetro’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, sell-side analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Institutional Trading of ProPetro

A number of large investors have recently modified their holdings of the business. Squarepoint Ops LLC raised its stake in ProPetro by 127.3% in the second quarter. Squarepoint Ops LLC now owns 102,166 shares of the company’s stock valued at $610,000 after purchasing an additional 57,226 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of ProPetro by 83.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,405 shares of the company’s stock valued at $122,000 after buying an additional 9,297 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of ProPetro by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 3,556,150 shares of the company’s stock valued at $21,230,000 after purchasing an additional 107,090 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of ProPetro in the third quarter worth about $1,569,000. Finally, Prudential Financial Inc. lifted its position in ProPetro by 256.5% in the second quarter. Prudential Financial Inc. now owns 377,904 shares of the company’s stock valued at $2,256,000 after purchasing an additional 271,906 shares during the last quarter. Institutional investors 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.