ProPetro (NYSE:PUMP) Sets New 1-Year High – Time to Buy?

Shares of ProPetro Holding Corp. (NYSE:PUMP) hit a new 52-week high during trading on Friday . The stock traded as high as $12.30 and last traded at $12.3750, with a volume of 839390 shares. The stock had previously closed at $11.27.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PUMP shares. JPMorgan Chase & Co. upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $7.00 to $13.00 in a research report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, December 10th. Piper Sandler lifted their target price on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Citigroup boosted their target price on shares of ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ProPetro has a consensus rating of “Hold” and an average price target of $12.67.

ProPetro Price Performance

The company has a fifty day simple moving average of $10.34 and a two-hundred day simple moving average of $7.95. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -70.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.19 and a current ratio of 1.26.

Institutional Investors Weigh In On ProPetro

Several institutional investors and hedge funds have recently added to or reduced their stakes in PUMP. Trek Financial LLC acquired a new stake in shares of ProPetro in the 3rd quarter valued at $57,000. Dark Forest Capital Management LP acquired a new position in shares of ProPetro during the 3rd quarter worth $57,000. MQS Management LLC bought a new stake in shares of ProPetro during the 3rd quarter worth $58,000. PharVision Advisers LLC acquired a new stake in ProPetro in the second quarter valued at about $60,000. Finally, Raymond James Financial Inc. acquired a new stake in ProPetro in the second quarter valued at about $60,000. 84.70% of the stock is currently owned by institutional investors.

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.