ProPetro (NYSE:PUMP) Now Covered by Odeon Capital Group

Stock analysts at Odeon Capital Group started coverage on shares of ProPetro (NYSE:PUMP) in a report released on Thursday. The brokerage set a “buy” rating on the stock.

Other equities research analysts have also issued reports about the company. Bank of America started coverage on ProPetro in a research report on Monday, March 30th. They set a “buy” rating and a $18.00 price target on the stock. Piper Sandler lifted their price target on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Weiss Ratings lowered shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Barclays raised shares of ProPetro from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $14.00 to $23.00 in a research note on Thursday, May 7th. Finally, The Goldman Sachs Group started coverage on ProPetro in a report on Friday, April 10th. They issued a “neutral” rating and a $15.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

ProPetro Trading Down 2.9%

Shares of PUMP stock traded down $0.46 during trading hours on Thursday, reaching $15.36. The company’s stock had a trading volume of 2,624,703 shares, compared to its average volume of 3,714,791. The stock has a market capitalization of $1.88 billion, a P/E ratio of -139.77 and a beta of 0.75. ProPetro has a one year low of $4.51 and a one year high of $18.50. The firm’s fifty day simple moving average is $15.50 and its 200 day simple moving average is $12.39. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The firm had revenue of $270.69 million for the quarter, compared to analyst estimates of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The business’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. Equities research analysts expect that ProPetro will post -0.08 EPS for the current year.

Institutional Trading of ProPetro

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in ProPetro by 1.1% during the first quarter. Bank of America Corp DE now owns 719,724 shares of the company’s stock valued at $10,371,000 after purchasing an additional 7,532 shares during the period. California State Teachers Retirement System grew its holdings in ProPetro by 80.9% during the first quarter. California State Teachers Retirement System now owns 138,818 shares of the company’s stock valued at $2,000,000 after purchasing an additional 62,090 shares during the period. Readystate Asset Management LP bought a new stake in ProPetro during the first quarter valued at about $1,516,000. Empowered Funds LLC grew its holdings in ProPetro by 44.4% during the first quarter. Empowered Funds LLC now owns 1,130,021 shares of the company’s stock valued at $16,284,000 after purchasing an additional 347,304 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in ProPetro by 87.0% during the first quarter. The Manufacturers Life Insurance Company now owns 45,065 shares of the company’s stock valued at $649,000 after purchasing an additional 20,968 shares during the period. 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.