ProPetro (NYSE:PUMP) Trading Up 6.6% - What's Next?

Key Points

• ProPetro's share price increased by 6.6% to $5.28, although trading volumes fell significantly to 219,307 shares, a decline of 89% from the average volume.
• Analysts have varied ratings for ProPetro, with target prices ranging from $5.00 to $10.00, and a consensus rating of "Hold" alongside a target price of $7.80.
• ProPetro reported a quarterly loss per share of ($0.07), missing analyst expectations, with revenues down 9.2% year-over-year at $326.15 million.

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report)'s share price shot up 6.6% during trading on Tuesday . The company traded as high as $5.28 and last traded at $5.28. 219,307 shares changed hands during trading, a decline of 89% from the average session volume of 1,989,743 shares. The stock had previously closed at $4.95.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PUMP shares. Piper Sandler reduced their target price on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Citigroup lowered their price objective on ProPetro from $6.50 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 9th. Stifel Nicolaus set a $10.00 target price on shares of ProPetro and gave the stock a "buy" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lowered their price target on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, Zacks Research downgraded shares of ProPetro from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $7.80.

ProPetro Trading Up 4.5%

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35. The company has a market cap of $538.04 million, a P/E ratio of -3.52 and a beta of 1.13. The stock's 50-day moving average is $5.10 and its two-hundred day moving average is $5.71.

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

Institutional Trading of ProPetro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of ProPetro in the first quarter worth about $25,000. Headlands Technologies LLC bought a new position in ProPetro during the first quarter valued at approximately $32,000. State of Wyoming purchased a new position in shares of ProPetro in the first quarter valued at $48,000. PharVision Advisers LLC purchased a new stake in ProPetro in the 2nd quarter worth about $60,000. Finally, Raymond James Financial Inc. bought a new stake in shares of ProPetro during the second quarter worth $60,000. 84.70% of the stock is owned by hedge funds and other 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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