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

Key Points

• Analysts rate ProPetro “Moderate Buy”: Eight of 11 analysts recommend buying the stock, with an average 12-month price target of $16.50. Recent firms lowered their targets, including Barclays and Piper Sandler to $18 and Citigroup to $16.
• ProPetro reported a quarterly loss of $0.07 per share, missing estimates by $0.06, while revenue of $305.81 million declined 6.3% year over year.
• Insiders recently sold shares worth approximately $1.19 million, while institutional investors own 84.70% of the company. The stock opened at $12.35, below its $16.50 analyst consensus target.

Shares of ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) have been given an average rating of "Moderate Buy" by the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $16.50.

PUMP has been the subject of a number of recent analyst reports. Barclays dropped their price target 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 cut their price target on ProPetro from $20.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, July 30th. Odeon Capital Group began coverage on ProPetro in a report on Thursday, May 28th. They set a "buy" rating on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $16.00 price objective on shares of ProPetro in a research note on Wednesday, June 3rd. Finally, Citigroup decreased their target price on ProPetro from $20.00 to $16.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd.

Insider Activity at ProPetro

In other news, COO Adam Munoz sold 70,696 shares of the business'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 transaction, the chief operating officer owned 148,691 shares of the company's stock, valued at approximately $1,660,878.47. The trade was a 32.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director G Larry Lawrence sold 35,831 shares of the company's stock in a transaction 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 transaction, the director 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 SEC filing for this sale provides additional information. Company insiders own 1.55% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its position in ProPetro by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 14,643 shares of the company's stock valued at $139,000 after purchasing an additional 944 shares in the last quarter. FourThought Financial Partners LLC grew its stake in ProPetro by 3.1% in the fourth quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company's stock valued at $578,000 after purchasing an additional 1,840 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in ProPetro by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company's stock worth $379,000 after purchasing an additional 2,230 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of ProPetro by 1.4% in the 1st quarter. Jane Street Group LLC now owns 224,275 shares of the company's stock valued at $1,648,000 after buying an additional 3,100 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in shares of ProPetro by 6.3% in the 1st quarter. Lazard Asset Management LLC now owns 54,637 shares of the company's stock worth $787,000 after buying an additional 3,219 shares during the last quarter. Institutional investors own 84.70% of the company's stock.

ProPetro Stock Down 3.5%

PUMP stock opened at $12.35 on Wednesday. ProPetro has a twelve month low of $4.51 and a twelve month high of $18.50. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80. The stock has a market cap of $1.52 billion, a P/E ratio of -112.24 and a beta of 0.77. The business's 50-day moving average price is $12.90 and its 200-day moving average price is $13.77.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source