ProPetro (NYSE:PUMP) Trading 3.2% Higher - Should You Buy?

Key Points

• ProPetro Holding Corp.'s shares rose **3.2%** to **$5.29** during mid-day trading, but trading volume fell **75%** below the average, indicating reduced investor activity.
• Analysts have issued mixed ratings on ProPetro, with one Buy rating, five Holds, and two Sells, while the consensus price target is **$6.80**.
• ProPetro reported a loss of **($0.07)** EPS for the last quarter, missing estimates and reflecting a **9.2%** decrease in revenue compared to the same quarter last year.

Shares of ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) rose 3.2% during mid-day trading on Friday . The company traded as high as $5.18 and last traded at $5.29. Approximately 499,260 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 2,007,554 shares. The stock had previously closed at $5.12.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a "sell (d)" rating on shares of ProPetro in a research report on Wednesday, October 8th. Zacks Research cut ProPetro from a "hold" rating to a "strong sell" rating in a research report on Monday, September 1st. Piper Sandler lowered their price target on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Barclays reissued an "equal weight" rating and issued a $5.00 price target (down from $6.00) on shares of ProPetro in a report on Monday. Finally, Citigroup increased their price target on shares of ProPetro from $5.00 to $6.00 and gave the company a "neutral" rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, ProPetro presently has an average rating of "Reduce" and a consensus price target of $6.80.

ProPetro Price Performance

The company's fifty day moving average price is $5.01 and its 200 day moving average price is $5.50. The company has a market capitalization of $561.02 million, a P/E ratio of -3.67 and a beta of 1.00. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.07.

ProPetro (NYSE:PUMP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). The business had revenue of $326.15 million for the quarter, compared to the consensus estimate of $331.26 million. ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.The firm's revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, sell-side analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC increased its stake in ProPetro by 32.3% in the third quarter. Inspire Investing LLC now owns 86,196 shares of the company's stock valued at $452,000 after acquiring an additional 21,058 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in ProPetro by 14.3% in the second quarter. Texas Permanent School Fund Corp now owns 144,210 shares of the company's stock valued at $861,000 after acquiring an additional 18,062 shares during the last quarter. Squarepoint Ops LLC increased its stake in ProPetro by 127.3% in the second quarter. Squarepoint Ops LLC now owns 102,166 shares of the company's stock valued at $610,000 after acquiring an additional 57,226 shares during the last quarter. Public Sector Pension Investment Board increased its stake in ProPetro by 8.5% in the second quarter. Public Sector Pension Investment Board now owns 272,763 shares of the company's stock valued at $1,628,000 after acquiring an additional 21,451 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in ProPetro by 70.5% in 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 last quarter. 84.70% of the stock is owned by institutional investors.

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.

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