ProPetro (NYSE:PUMP) Sets New 12-Month High – Still a Buy?

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

Analyst Upgrades and Downgrades

PUMP has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 price target for the company in a research note on Wednesday, December 10th. Barclays reissued a “neutral” rating on shares of ProPetro in a research report on Wednesday, December 17th. Piper Sandler boosted their target price on shares of ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, Citigroup boosted their price objective on ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.67.

ProPetro Price Performance

The stock has a 50 day moving average of $10.31 and a 200-day moving average of $7.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.19 and a current ratio of 1.26. The company has a market cap of $1.29 billion, a PE ratio of -72.76 and a beta of 0.77.

Institutional Trading of ProPetro

Institutional investors and hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 during the period. Millennium Management LLC grew its holdings in ProPetro by 44.6% during the first quarter. Millennium Management LLC now owns 735,731 shares of the company’s stock worth $5,408,000 after acquiring an additional 226,914 shares during the period. Jones Financial Companies Lllp raised its position in ProPetro by 16,264.8% during the first quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company’s stock valued at $198,000 after acquiring an additional 26,837 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in ProPetro by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company’s stock valued at $4,483,000 after acquiring an additional 21,519 shares during the period. Finally, Caxton Associates LLP acquired a new stake in shares of ProPetro during the 1st quarter worth approximately $272,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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.