ProPetro Holding Corp. (NYSE:PUMP) Receives $16.62 Average PT from Brokerages

Shares of ProPetro Holding Corp. (NYSE:PUMP) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $18.25.

Several research firms have weighed in on PUMP. Odeon Capital Group began coverage on ProPetro in a report on Thursday, May 28th. They issued a “buy” rating on the stock. The Goldman Sachs Group restated a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a research report on Wednesday, June 3rd. Piper Sandler raised their target price on shares of ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Weiss Ratings downgraded shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Finally, Stifel Nicolaus set a $23.00 target price on shares of ProPetro in a research report on Thursday.

Hedge Funds Weigh In On ProPetro

Large investors have recently modified their holdings of the company. Sourcerock Group LLC grew its position in ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after acquiring an additional 3,355,848 shares during the last quarter. Dimensional Fund Advisors LP lifted 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 worth $93,408,000 after acquiring an additional 831,823 shares during the last quarter. Philosophy Capital Management LLC lifted its holdings in shares of ProPetro by 14.8% in the 3rd 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 last quarter. American Century Companies Inc. boosted its stake in shares of ProPetro by 5.4% in the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock valued at $19,644,000 after purchasing an additional 192,638 shares in the last quarter. Finally, VR Advisory Services Ltd boosted its stake in shares of ProPetro by 213.2% in the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after purchasing an additional 2,504,634 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $12.09 on Tuesday. The company has a 50 day moving average of $15.73 and a 200 day moving average of $13.25. The stock has a market cap of $1.48 billion, a P/E ratio of -109.86 and a beta of 0.72. ProPetro has a 12 month low of $4.51 and a 12 month high of $18.50. 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 released its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. The firm had revenue of $270.69 million during the quarter, compared to analyst estimates of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The business’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 EPS. As a group, sell-side analysts forecast that ProPetro will post -0.08 EPS for the current fiscal year.

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.