ProPetro (NYSE:PUMP) Stock Rating Lowered by Wall Street Zen

ProPetro (NYSE:PUMP) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

PUMP has been the topic of a number of other reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.00 price objective on shares of ProPetro in a research note on Wednesday, June 3rd. Barclays dropped their target price on shares of ProPetro from $23.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Odeon Capital Group initiated coverage on ProPetro in a research report on Thursday, May 28th. They issued a “buy” rating on the stock. Citigroup reduced their price target on ProPetro from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, August 3rd. Finally, Piper Sandler decreased their price objective on ProPetro from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ProPetro currently has an average rating of “Moderate Buy” and a consensus target price of $16.12.

ProPetro Stock Performance

ProPetro stock opened at $10.91 on Friday. The company has a market cap of $1.34 billion, a PE ratio of -99.18 and a beta of 0.77. The company has a current ratio of 4.09, a quick ratio of 4.00 and a debt-to-equity ratio of 0.80. ProPetro has a 1 year low of $4.52 and a 1 year high of $18.50. The company’s 50-day moving average is $12.28 and its two-hundred day moving average is $13.75.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The business had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS. Equities analysts anticipate that ProPetro will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In other ProPetro news, COO Adam Munoz sold 70,696 shares of the stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the sale, the chief operating officer directly owned 148,691 shares in the company, valued at approximately $1,660,878.47. This trade represents a 32.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director G Larry Lawrence sold 35,831 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total transaction of $399,873.96. Following the completion of the sale, the director owned 28,181 shares in the company, valued at approximately $314,499.96. This trade represents a 55.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by insiders.

Institutional Trading of ProPetro

A number of large investors have recently made changes to their positions in PUMP. Assenagon Asset Management S.A. bought a new position in ProPetro during the second quarter worth about $18,700,000. Y Intercept Hong Kong Ltd bought a new stake in shares of ProPetro in the first quarter worth about $2,045,000. Jefferies Financial Group Inc. bought a new stake in shares of ProPetro in the fourth quarter worth about $3,085,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of ProPetro by 561.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,653,600 shares of the company’s stock worth $23,828,000 after purchasing an additional 1,403,600 shares during the period. Finally, Sei Investments Co. raised its position in shares of ProPetro by 113.7% during the first quarter. Sei Investments Co. now owns 534,059 shares of the company’s stock worth $7,696,000 after purchasing an additional 284,109 shares during the period. 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.