ProPetro Holding Corp. (NYSE:PUMP) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Eleven brokerages give ProPetro a “Moderate Buy” consensus, with eight buys, two holds and one sell. The average 12-month price target is $16.13 versus the stock’s reported $11.41 price.
• Recent earnings fell short of expectations: ProPetro reported a quarterly loss of $0.07 per share, missing the $0.01 loss estimate, while revenue declined 6.3% year over year to $305.81 million.
• Insiders reduced their holdings: The COO and a director sold shares worth approximately $1.19 million combined, while institutional investors own a substantial 84.7% of the company.

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $16.1250.

PUMP has been the subject of several recent research reports. Barclays cut their target price on shares of ProPetro from $23.00 to $18.00 and set an "overweight" rating for the company in a research report on Wednesday, August 5th. Piper Sandler decreased their price target on shares of ProPetro from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Thursday, August 27th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ProPetro in a research note on Friday, July 31st. Wall Street Zen downgraded shares of ProPetro from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Finally, Citigroup cut their price objective on shares of ProPetro from $20.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, August 3rd.

Insider Buying and Selling at ProPetro

In related news, COO Adam Muñoz sold 70,696 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the completion of the sale, the chief operating officer directly owned 148,691 shares of the company's stock, valued at approximately $1,660,878.47. This represents a 32.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director G Lawrence sold 35,831 shares of the firm's stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total transaction of $399,873.96. Following the sale, the director owned 28,181 shares in the company, valued at approximately $314,499.96. The trade was a 55.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is currently owned by insiders.

Institutional Trading of ProPetro

A number of hedge funds and other institutional investors have recently modified their holdings of PUMP. Public Employees Retirement System of Ohio purchased a new position in shares of ProPetro during the 2nd quarter valued at $74,000. State of Wyoming purchased a new stake in ProPetro in the 1st quarter worth $83,000. Aster Capital Management DIFC Ltd purchased a new stake in ProPetro in the 4th quarter worth $56,000. Raymond James Financial Inc. bought a new stake in ProPetro during the second quarter valued at about $60,000. Finally, Tower Research Capital LLC TRC raised its holdings in ProPetro by 70.5% during the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company's stock valued at $64,000 after acquiring an additional 4,461 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Stock Down 0.8%

PUMP stock opened at $11.41 on Friday. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -103.69 and a beta of 0.77. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09. The business's 50-day moving average is $11.79 and its two-hundred day moving average is $13.74. ProPetro has a fifty-two week low of $4.64 and a fifty-two week high of $18.50.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.06). ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The firm had revenue of $305.81 million for the quarter, compared to the consensus estimate of $304.48 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts forecast that ProPetro will post -0.1 earnings per share for the current year.

About ProPetro

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to exploration and production companies developing unconventional oil and natural gas wells. The company primarily serves customers in the Permian Basin, including the Midland and Delaware basins of West Texas and southeastern New Mexico.

Its principal services include hydraulic fracturing, which uses high-pressure fluid to stimulate wells, as well as wireline services used for well evaluation, perforating and other completion activities.

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