ProPetro (NYSE:PUMP) Hits New 12-Month High – What’s Next?

Shares of ProPetro Holding Corp. (NYSE:PUMP) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $11.77 and last traded at $11.37, with a volume of 238591 shares trading hands. The stock had previously closed at $11.00.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PUMP. Barclays restated a “neutral” rating on shares of ProPetro in a research note on Wednesday, December 17th. Citigroup boosted their price objective on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Zacks Research raised shares of ProPetro from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Piper Sandler lifted 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, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.67.

ProPetro Stock Up 3.5%

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of -66.87 and a beta of 0.75. The firm has a fifty day moving average price of $9.86 and a 200 day moving average price of $7.37. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The company had revenue of $293.92 million during the quarter, compared to analyst estimates of $266.25 million. During the same period last year, the company posted ($1.32) earnings per share. The firm’s quarterly revenue was down 18.6% compared to the same quarter last year. Sell-side analysts anticipate that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Insider Transactions at ProPetro

In other ProPetro news, Director G Larry Lawrence sold 27,000 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $10.84, for a total value of $292,680.00. Following the transaction, the director owned 35,831 shares of the company’s stock, valued at approximately $388,408.04. This represents a 42.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michele Vion sold 6,916 shares of ProPetro stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $10.64, for a total transaction of $73,586.24. Following the transaction, the director directly owned 45,029 shares in the company, valued at $479,108.56. The trade was a 13.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Trek Financial LLC bought a new position in shares of ProPetro in the third quarter valued at $57,000. Dark Forest Capital Management LP acquired a new stake in ProPetro in the third quarter valued at $57,000. MQS Management LLC acquired a new stake in ProPetro in the third quarter valued at $58,000. PharVision Advisers LLC bought a new position in shares of ProPetro in the 2nd quarter valued at about $60,000. Finally, Raymond James Financial Inc. acquired a new position in shares of ProPetro during the 2nd quarter worth about $60,000. Institutional investors and hedge funds 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.