ProPetro (NYSE:PUMP) Shares Gap Down – Here’s What Happened

ProPetro Holding Corp. (NYSE:PUMP)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $14.59, but opened at $13.90. ProPetro shares last traded at $14.6330, with a volume of 231,797 shares changing hands.

Analyst Ratings Changes

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

ProPetro Stock Down 2.2%

The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 1,428.50 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 1.24. The stock has a fifty day moving average of $11.84 and a two-hundred day moving average of $9.35.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.01 EPS for the quarter, beating 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 company had revenue of $289.68 million for the quarter, compared to analyst estimates of $279.90 million. During the same period in the prior year, the firm posted ($0.17) EPS. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Sell-side analysts anticipate that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On ProPetro

Several large investors have recently made changes to their positions in the business. Sourcerock Group LLC boosted 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 valued at $50,198,000 after purchasing an additional 3,355,848 shares during the period. Philosophy Capital Management LLC increased its position in shares of ProPetro by 14.8% during the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock valued at $21,208,000 after purchasing an additional 520,327 shares during the last quarter. American Century Companies Inc. lifted its position in ProPetro by 5.4% in the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock worth $19,644,000 after buying an additional 192,638 shares during the last quarter. VR Advisory Services Ltd boosted its stake in ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after buying an additional 2,504,634 shares in the last quarter. Finally, Valiant Capital Management L.P. bought a new position in shares of ProPetro during the 4th quarter valued at $34,890,000. 84.70% of the stock is owned by hedge funds and other 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.