ProPetro Holding Corp. (PUMP) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts hold a consensus “Moderate Buy” rating on ProPetro, with eight buys, three holds, one sell and one strong buy. The average 12-month price target is $15.25, although several firms recently lowered their targets.
• ProPetro shares opened at $7.72, near their 52-week low of $7.01 and below both their 50-day and 200-day moving averages. The company nevertheless beat quarterly earnings estimates, reporting $0.09 EPS and $355.38 million in revenue, up 20.9% year over year.
• Insiders recently reduced their holdings through stock sales, while institutional investors own 84.7% of the company. A director and the COO sold shares representing declines of roughly 56% and 32% in their respective positions.

Shares of ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) have earned a consensus rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $15.25.

PUMP has been the topic of a number of research reports. Morgan Stanley dropped their price target on ProPetro from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 14th. Wall Street Zen raised shares of ProPetro from a "sell" rating to a "hold" rating in a research report on Saturday. Weiss Ratings cut shares of ProPetro from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, September 29th. Barclays reduced their price objective on shares of ProPetro from $17.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday. Finally, Piper Sandler cut their price objective on ProPetro from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday, August 27th.

Insider Activity at ProPetro

In related news, Director G Lawrence sold 35,831 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total value of $399,873.96. Following the completion of the transaction, the director directly owned 28,181 shares of the company's stock, valued at approximately $314,499.96. This represents a 55.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Adam Muñoz sold 70,696 shares of the firm's stock in a transaction 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 in the company, valued at approximately $1,660,878.47. This represents a 32.22% decrease in their position. The SEC filing for this sale provides additional information. 1.55% of the stock is owned by corporate insiders.

Institutional Trading of ProPetro

A number of institutional investors and hedge funds have recently made changes to their positions in PUMP. Arlington Capital Management INC boosted its stake in shares of ProPetro by 1.5% during the third quarter. Arlington Capital Management INC now owns 271,044 shares of the company's stock valued at $2,396,000 after acquiring an additional 3,986 shares during the last quarter. ProShare Advisors LLC boosted its holdings in ProPetro by 18.8% during the third quarter. ProShare Advisors LLC now owns 15,571 shares of the company's stock worth $138,000 after buying an additional 2,459 shares in the last quarter. Sterling Capital Management LLC boosted its position in ProPetro by 1,062.2% during the 3rd quarter. Sterling Capital Management LLC now owns 4,091 shares of the company's stock worth $36,000 after acquiring an additional 3,739 shares during the period. Inspire Investing LLC raised its holdings in shares of ProPetro by 53.0% during the 3rd quarter. Inspire Investing LLC now owns 72,075 shares of the company's stock valued at $637,000 after purchasing an additional 24,968 shares in the last quarter. Finally, Pension & Wealth Management Advisors Inc. lifted its holdings in shares of ProPetro by 96.5% during the third quarter. Pension & Wealth Management Advisors Inc. now owns 16,621 shares of the company's stock worth $147,000 after buying an additional 8,161 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Trading Down 0.1%

Shares of ProPetro stock opened at $7.72 on Monday. ProPetro has a fifty-two week low of $7.01 and a fifty-two week high of $18.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.41. The firm has a 50 day simple moving average of $9.59 and a 200 day simple moving average of $12.53.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.10. ProPetro had a return on equity of 0.21% and a net margin of 0.16%. The business had revenue of $355.38 million during the quarter, compared to analyst estimates of $320.44 million. During the same period in the prior year, the firm posted ($0.02) EPS. ProPetro's quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts anticipate that ProPetro will post -0.09 earnings per share for the current fiscal year.

About ProPetro

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to oil and natural gas exploration and production companies. Its primary offerings include hydraulic fracturing, well stimulation and wireline services used to prepare newly drilled wells for production and support ongoing well operations.

The company operates primarily in the Permian Basin, serving customers in the West Texas and southeastern New Mexico region. ProPetro's services are focused on unconventional shale and tight-rock wells, where specialized pumping, pressure-control and downhole technologies are used to improve hydrocarbon recovery.

ProPetro was founded in 2007 and is headquartered in Midland, Texas.

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