ProPetro (NYSE:PUMP) Sets New 1-Year High – Here’s Why

ProPetro Holding Corp. (NYSE:PUMP)’s stock price hit a new 52-week high on Thursday . The company traded as high as $11.87 and last traded at $11.58, with a volume of 1668987 shares traded. The stock had previously closed at $10.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PUMP shares. Piper Sandler increased their price target on ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and raised their target price for the company from $7.00 to $13.00 in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Wolfe Research upgraded shares of ProPetro to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, December 10th. Finally, Barclays reaffirmed a “neutral” rating on shares of ProPetro in a research note on Wednesday, December 17th. Four equities research 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.67.

ProPetro Trading Up 0.5%

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 market cap of $1.20 billion, a price-to-earnings ratio of -67.64 and a beta of 0.75. The company has a fifty day simple moving average of $10.04 and a 200-day simple moving average of $7.56.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.09. The business had revenue of $293.92 million for the quarter, compared to the consensus estimate of $266.25 million. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. The firm’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same period last year, the firm posted ($1.32) earnings per share. On average, research analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of ProPetro

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sourcerock Group LLC raised 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 buying an additional 3,355,848 shares during the period. VR Advisory Services Ltd boosted its position in ProPetro by 213.2% during the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after acquiring an additional 2,504,634 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in ProPetro by 209.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock valued at $14,170,000 after acquiring an additional 1,830,399 shares in the last quarter. Millennium Management LLC increased its holdings in shares of ProPetro by 382.7% in the 3rd quarter. Millennium Management LLC now owns 2,215,896 shares of the company’s stock valued at $11,611,000 after purchasing an additional 1,756,812 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of ProPetro by 103.4% in the third quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock worth $8,636,000 after purchasing an additional 837,776 shares in the last quarter. Institutional investors and hedge funds 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.