ProPetro (NYSE:PUMP) Reaches New 52-Week High – Still a Buy?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.14 and last traded at $11.8470, with a volume of 3526750 shares. The stock had previously closed at $11.83.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PUMP. Barclays reiterated a “neutral” rating on shares of ProPetro in a research report on Wednesday, December 17th. Piper Sandler boosted 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. Zacks Research raised shares of ProPetro from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday, December 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.67.

ProPetro Price Performance

The business’s fifty day moving average price is $10.13 and its 200 day moving average price is $7.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.19. The stock has a market cap of $1.23 billion, a P/E ratio of -69.68 and a beta of 0.77.

Institutional Investors Weigh In On ProPetro

A number of hedge funds and other institutional investors have recently bought and sold shares of PUMP. Sourcerock Group LLC increased its holdings in ProPetro by 66.4% in the 2nd quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after purchasing an additional 3,355,848 shares in the last quarter. VR Advisory Services Ltd grew its holdings in shares of ProPetro by 213.2% during the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after purchasing an additional 2,504,634 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of ProPetro by 209.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock valued at $14,170,000 after buying an additional 1,830,399 shares during the period. Millennium Management LLC raised its holdings in 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 buying an additional 1,756,812 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in ProPetro by 103.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock worth $8,636,000 after buying an additional 837,776 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.