ProPetro (NYSE:PUMP) Shares Gap Down – Should You Sell?

ProPetro Holding Corp. (NYSE:PUMP) shares gapped down before the market opened on Wednesday . The stock had previously closed at $17.89, but opened at $17.23. ProPetro shares last traded at $17.22, with a volume of 2,922,000 shares trading hands.

Analyst Ratings Changes

Several research firms have recently issued reports on PUMP. Piper Sandler boosted their target price on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday. Barclays raised ProPetro from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $23.00 in a research note on Thursday, May 7th. The Goldman Sachs Group began coverage on ProPetro in a research note on Friday, April 10th. They set a “neutral” rating and a $15.00 target price on the stock. Citigroup boosted their target price on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Bank of America assumed coverage on ProPetro in a research note on Monday, March 30th. They issued a “buy” rating and a $18.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $16.50.

ProPetro Stock Performance

The company has a market capitalization of $2.13 billion, a PE ratio of -158.26 and a beta of 0.75. The company has a 50 day moving average of $15.29 and a two-hundred day moving average of $12.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.09. The company had revenue of $270.69 million for the quarter, compared to analysts’ expectations of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. As a group, equities research analysts predict that ProPetro Holding Corp. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On ProPetro

Several hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its holdings in ProPetro by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock worth $139,000 after acquiring an additional 944 shares in the last quarter. FourThought Financial Partners LLC boosted its holdings in ProPetro by 3.1% in the fourth quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock worth $578,000 after acquiring an additional 1,840 shares in the last quarter. Mutual Advisors LLC boosted its holdings in ProPetro by 1.2% in the third quarter. Mutual Advisors LLC now owns 164,822 shares of the company’s stock worth $864,000 after acquiring an additional 2,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ProPetro by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock worth $379,000 after acquiring an additional 2,230 shares in the last quarter. Finally, Profund Advisors LLC boosted its holdings in ProPetro by 14.2% in the third quarter. Profund Advisors LLC now owns 18,958 shares of the company’s stock worth $99,000 after acquiring an additional 2,355 shares in the last quarter. 84.70% of the stock is owned by institutional investors.

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.