ProPetro (NYSE:PUMP) Sets New 1-Year High – Still a Buy?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $15.02 and last traded at $14.6450, with a volume of 4391497 shares changing hands. The stock had previously closed at $14.08.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PUMP shares. Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 target price for the company in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Barclays upped their target price on shares of ProPetro from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Finally, Piper Sandler increased their target price on shares of ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.83.

ProPetro Trading Up 4.0%

The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of 1,464.50 and a beta of 0.70. The business’s fifty day moving average is $11.51 and its 200 day moving average is $9.14. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The firm had revenue of $289.68 million during the quarter, compared to analyst estimates of $279.90 million. During the same period in the prior year, the business earned ($0.17) EPS. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. Equities analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PUMP. Aster Capital Management DIFC Ltd bought a new stake in ProPetro in the 4th quarter valued at approximately $56,000. Trek Financial LLC acquired a new position in ProPetro during the 3rd quarter worth approximately $57,000. Dark Forest Capital Management LP bought a new position in shares of ProPetro during the 3rd quarter worth approximately $57,000. MQS Management LLC acquired a new stake in shares of ProPetro in the third quarter valued at approximately $58,000. Finally, PharVision Advisers LLC acquired a new stake in shares of ProPetro in the second quarter valued at approximately $60,000. 84.70% of the stock is currently owned by institutional investors.

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.