ProPetro (NYSE:PUMP) Trading 6.5% Higher - Time to Buy?

Key Points

• Shares of ProPetro jumped about 6.5% to $14.81 on Tuesday, but trading volume was roughly 95% below the average, suggesting the move may lack broad participation.
• Wall Street shows a Moderate Buy consensus (six Buys, three Holds, one Sell) with a consensus target of $14.50, and recent upgrades include Bank of America (Buy, $18 PT) and Citigroup (Buy, $16 PT).
• ProPetro posted an EPS beat for the quarter ($0.01 vs. -$0.13 est.) and revenue of $289.7M, but revenue fell 9.6% year-over-year and analysts forecast -$0.12 EPS for the year; the company has low leverage (debt/equity 0.13) and 84.7% institutional ownership.

Shares of ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) were up 6.5% during trading on Tuesday . The stock traded as high as $14.69 and last traded at $14.81. Approximately 139,224 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 2,911,428 shares. The stock had previously closed at $13.90.

Wall Street Analysts Forecast Growth

PUMP has been the subject of several recent analyst reports. Bank of America initiated coverage on ProPetro in a research note on Monday, March 30th. They set a "buy" rating and a $18.00 price target for the company. Barclays upped their price objective on shares of ProPetro from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday, April 9th. Citigroup raised shares of ProPetro from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $12.00 to $16.00 in a report on Wednesday, April 15th. Weiss Ratings restated a "sell (d-)" rating on shares of ProPetro in a research note on Monday, December 29th. Finally, The Goldman Sachs Group assumed coverage on shares of ProPetro in a report on Friday, April 10th. They issued a "neutral" rating and a $15.00 price target for the company. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $14.50.

ProPetro Stock Up 5.1%

The company has a market cap of $1.79 billion, a P/E ratio of 1,460.20 and a beta of 0.62. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $13.23 and a 200 day moving average price of $10.71.

ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.14. The company had revenue of $289.68 million during the quarter, compared to the consensus estimate of $279.90 million. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The company's quarterly revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) EPS. Equities research analysts forecast that ProPetro Holding Corp. will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in shares of ProPetro in the fourth quarter worth $56,000. Trek Financial LLC acquired a new stake in ProPetro in the third quarter valued at approximately $57,000. Dark Forest Capital Management LP acquired a new stake in shares of ProPetro during the third quarter valued at about $57,000. MQS Management LLC acquired a new position in shares of ProPetro during the third quarter worth $58,000. Finally, Raymond James Financial Inc. acquired a new position in ProPetro in the second quarter valued at approximately $60,000. 84.70% of the stock is owned by institutional investors and hedge funds.

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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