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

Key Points

• ProPetro Holding Corp. has received an average analyst rating of “Moderate Buy”, with 7 buy ratings, 2 hold ratings, and 1 sell rating among 10 covering firms. The average 12-month price target is $16.13.
• Several firms recently revised their outlooks, including Piper Sandler, Citigroup, and Barclays raising price targets, while Goldman Sachs initiated coverage with a neutral rating. Barclays was the most bullish, upgrading the stock to overweight and lifting its target to $23.
• ProPetro reported a smaller-than-expected quarterly loss of $0.03 per share, beating estimates, but revenue fell 24.6% year over year to $270.69 million. The stock was trading near $15.70, close to its 52-week high of $18.50.

Shares of ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $16.1250.

PUMP has been the topic of several analyst reports. Piper Sandler increased their price target on shares of ProPetro from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 14th. The Goldman Sachs Group initiated coverage on shares of ProPetro in a research note on Friday, April 10th. They set a "neutral" rating and a $15.00 price target on the stock. Bank of America initiated coverage on shares of ProPetro in a research note on Monday, March 30th. They set a "buy" rating and a $18.00 price target on the stock. Citigroup increased their price target on shares of ProPetro from $16.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Finally, Barclays upgraded shares of ProPetro from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $14.00 to $23.00 in a research note on Thursday.

ProPetro Stock Up 0.1%

ProPetro stock opened at $15.70 on Monday. The firm has a market cap of $1.92 billion, a PE ratio of -142.70 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.64. The firm's 50 day moving average price is $14.34 and its two-hundred day moving average price is $11.57. ProPetro has a twelve month low of $4.51 and a twelve month high of $18.50.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.09. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The firm had revenue of $270.69 million for the quarter, compared to analyst estimates of $277.49 million. During the same quarter in the prior year, the business earned $0.09 EPS. The company's revenue for the quarter was down 24.6% compared to the same quarter last year. On average, research analysts predict that ProPetro will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PUMP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of ProPetro by 4.5% during the 1st 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 during the last quarter. Millennium Management LLC boosted its holdings in shares of ProPetro by 44.6% during the 1st quarter. Millennium Management LLC now owns 735,731 shares of the company's stock worth $5,408,000 after buying an additional 226,914 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of ProPetro by 16,264.8% during the 1st quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company's stock worth $198,000 after buying an additional 26,837 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of ProPetro by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company's stock worth $4,483,000 after buying an additional 21,519 shares during the period. Finally, Caxton Associates LLP bought a new stake in shares of ProPetro during the 1st quarter worth $272,000. Institutional investors and hedge funds own 84.70% of the company's stock.

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.

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