ProPetro Holding Corp. (PUMP) – What Are Brokerages Thinking About This Stock?

ProPetro Holding Corp. (NYSE:PUMP) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $15.15.

Several research firms have recently commented on PUMP. Morgan Stanley decreased their price target on shares of ProPetro from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Citigroup dropped their price objective on shares of ProPetro from $16.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, October 2nd. Stifel Nicolaus reduced their price objective on ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Weiss Ratings cut ProPetro from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 29th. Finally, Piper Sandler dropped their target price on ProPetro from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, August 27th.

ProPetro Stock Performance

NYSE:PUMP opened at $8.18 on Thursday. 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 $5.01 and a 1 year high of $18.50. The firm has a 50 day moving average of $10.56 and a 200-day moving average of $13.13.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The business had revenue of $305.81 million for the quarter, compared to analyst estimates of $304.48 million. During the same period in the prior year, the business earned ($0.07) earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts expect that ProPetro will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Adam Muñoz sold 70,696 shares of ProPetro stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total value of $789,674.32. Following the completion of the sale, the chief operating officer directly owned 148,691 shares in the company, valued at $1,660,878.47. This trade represents a 32.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Lawrence sold 35,831 shares of ProPetro stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total value of $399,873.96. Following the completion of the sale, the director owned 28,181 shares of the company’s stock, valued at approximately $314,499.96. The trade was 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 owned by company insiders.

Institutional Trading of ProPetro

Several institutional investors and hedge funds have recently made changes to their positions in PUMP. Arlington Capital Management Inc. bought a new stake in shares of ProPetro in the 2nd quarter valued at $3,830,000. Engineers Gate Manager LP boosted its stake in ProPetro by 477.9% during the second quarter. Engineers Gate Manager LP now owns 297,809 shares of the company’s stock worth $4,271,000 after acquiring an additional 246,278 shares in the last quarter. Squarepoint Ops LLC grew its holdings in ProPetro by 80.9% in the second quarter. Squarepoint Ops LLC now owns 622,179 shares of the company’s stock worth $8,922,000 after purchasing an additional 278,172 shares during the period. Readystate Asset Management LP increased its stake in ProPetro by 285.6% in the second quarter. Readystate Asset Management LP now owns 405,748 shares of the company’s stock valued at $5,818,000 after purchasing an additional 300,535 shares in the last quarter. Finally, Situational Awareness LP raised its holdings in shares of ProPetro by 115.4% during the second quarter. Situational Awareness LP now owns 1,960,382 shares of the company’s stock valued at $28,112,000 after purchasing an additional 1,050,082 shares during the period. Institutional investors own 84.70% of the company’s stock.

ProPetro Company Profile

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to exploration and production companies. Through its operating subsidiaries, the company primarily supports the development of unconventional oil and natural gas wells.

ProPetro’s services include hydraulic fracturing, well stimulation, wireline services and related completion activities. Its hydraulic fracturing operations use fleets of high-pressure pumping equipment to help operators complete wells, while its wireline business supports well intervention, evaluation and perforating activities.

Headquartered in Midland, Texas, ProPetro primarily serves customers operating in the Permian Basin of West Texas and southeastern New Mexico, one of the largest U.S.