ProPetro Holding Corp. (NYSE:PUMP) Receives Average Rating of "Hold" from Brokerages

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) has earned an average rating of "Hold" from the six research firms that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.00.

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Stifel Nicolaus dropped their target price on ProPetro from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Piper Sandler assumed coverage on ProPetro in a research note on Monday. They issued a "neutral" rating and a $7.00 target price for the company.

ProPetro Price Performance

Shares of NYSE PUMP traded down $0.02 during trading on Tuesday, reaching $5.74. The company had a trading volume of 1,800,660 shares, compared to its average volume of 1,590,717. ProPetro has a twelve month low of $4.61 and a twelve month high of $11.17. The stock has a market capitalization of $595.92 million, a PE ratio of -4.01 and a beta of 1.18. The stock has a 50-day moving average price of $6.02 and a two-hundred day moving average price of $7.16. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.05.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $359.42 million during the quarter, compared to analysts' expectations of $344.36 million. ProPetro had a positive return on equity of 2.16% and a negative net margin of 10.60%. The business's revenue for the quarter was down 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 earnings per share. As a group, sell-side analysts predict that ProPetro will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On ProPetro

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in ProPetro by 6.6% during the first quarter. American Century Companies Inc. now owns 3,449,060 shares of the company's stock worth $25,351,000 after acquiring an additional 212,925 shares during the last quarter. Philosophy Capital Management LLC increased its stake in ProPetro by 23.2% during the first quarter. Philosophy Capital Management LLC now owns 2,820,887 shares of the company's stock worth $20,734,000 after acquiring an additional 531,751 shares during the last quarter. Nuveen LLC acquired a new stake in ProPetro during the first quarter worth about $11,757,000. Sourcerock Group LLC acquired a new stake in ProPetro during the fourth quarter worth about $14,079,000. Finally, VR Advisory Services Ltd acquired a new stake in ProPetro during the first quarter worth about $8,634,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Company Profile

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.