ProPetro (NYSE:PUMP) Shares Down 4.2% – What’s Next?

ProPetro Holding Corp. (NYSE:PUMP) dropped 4.2% during trading on Wednesday . The company traded as low as $14.21 and last traded at $14.2240. Approximately 816,481 shares changed hands during trading, a decline of 74% from the average daily volume of 3,121,987 shares. The stock had previously closed at $14.85.

Wall Street Analysts Forecast Growth

PUMP has been the topic of several analyst reports. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $7.00 to $13.00 in a report on Wednesday, December 10th. Wolfe Research upgraded shares of ProPetro to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Barclays upped their target price on shares of ProPetro from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Finally, Piper Sandler increased their price target on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.83.

ProPetro Stock Performance

The business’s fifty day moving average price is $12.20 and its two-hundred day moving average price is $9.56. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.29. The stock has a market capitalization of $1.79 billion, a P/E ratio of 1,467.90 and a beta of 0.70.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The firm had revenue of $289.68 million during the quarter, compared to the consensus estimate of $279.90 million. During the same quarter last year, the firm earned ($0.17) EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Institutional Trading of ProPetro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd purchased a new position in ProPetro during the fourth quarter worth $56,000. Raymond James Financial Inc. purchased a new stake in shares of ProPetro in the second quarter valued at $60,000. PharVision Advisers LLC bought a new stake in shares of ProPetro in the 2nd quarter worth about $60,000. Tower Research Capital LLC TRC lifted its holdings in shares of ProPetro by 70.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock worth $64,000 after acquiring an additional 4,461 shares during the last quarter. Finally, Trek Financial LLC purchased a new position in shares of ProPetro during the 3rd quarter worth about $57,000. 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.