ProPetro (NYSE:PUMP) Posts Earnings Results, Beats Expectations By $0.14 EPS

ProPetro (NYSE:PUMP) posted its earnings results on Wednesday. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.14, Briefing.com reports. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. During the same quarter last year, the business posted ($0.17) earnings per share. The business’s revenue was down 9.6% compared to the same quarter last year.

ProPetro Stock Performance

PUMP traded up $0.48 on Wednesday, reaching $12.49. The company had a trading volume of 699,545 shares, compared to its average volume of 2,997,191. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 0.11. ProPetro has a 1 year low of $4.51 and a 1 year high of $13.25. The stock has a market capitalization of $1.30 billion, a PE ratio of -73.76 and a beta of 0.77. The stock has a 50-day moving average price of $10.38 and a 200-day moving average price of $8.07.

Institutional Investors Weigh In On ProPetro

Several hedge funds have recently modified their holdings of the stock. Brevan Howard Capital Management LP lifted its holdings in ProPetro by 511.3% in the third quarter. Brevan Howard Capital Management LP now owns 247,680 shares of the company’s stock valued at $1,298,000 after acquiring an additional 207,162 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of ProPetro in the fourth quarter valued at $836,000. Headlands Technologies LLC acquired a new position in shares of ProPetro during the 4th quarter worth $758,000. Aquatic Capital Management LLC purchased a new stake in shares of ProPetro in the 3rd quarter worth about $275,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of ProPetro in the 3rd quarter worth about $208,000. 84.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

ProPetro Company Profile

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.