ProPetro (NYSE:PUMP) Upgraded to Overweight at Barclays

Key Points

• Barclays upgraded ProPetro from "equal weight" to "overweight" and set a $23 price target, implying roughly a 45.6% upside from the prior close.
• Analyst sentiment is mixed but leans positive — seven Buys, two Holds and one Sell — with a consensus target of $16.13, well below Barclays' projection.
• ProPetro beat quarterly EPS estimates (‑$0.03 vs. ‑$0.12) but reported a 24.6% year‑over‑year revenue decline, and analysts still expect a negative full‑year EPS (~‑$0.07).

ProPetro (NYSE:PUMP - Get Free Report) was upgraded by investment analysts at Barclays from an "equal weight" rating to an "overweight" rating in a report released on Thursday. The brokerage presently has a $23.00 price objective on the stock. Barclays's target price would indicate a potential upside of 45.58% from the stock's previous close.

A number of other equities analysts have also recently commented on PUMP. The Goldman Sachs Group started coverage on shares of ProPetro in a research report on Friday, April 10th. They set a "neutral" rating and a $15.00 price objective for the company. Weiss Ratings lowered shares of ProPetro from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Monday. Piper Sandler increased their price target on shares of ProPetro from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Wednesday, January 14th. Citigroup boosted their price objective on ProPetro from $16.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Bank of America started coverage on ProPetro in a research note on Monday, March 30th. They set a "buy" rating and a $18.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ProPetro has an average rating of "Moderate Buy" and a consensus target price of $16.13.

ProPetro Trading Down 4.9%

ProPetro stock opened at $15.80 on Thursday. The stock has a 50-day simple moving average of $14.26 and a 200 day simple moving average of $11.50. The stock has a market capitalization of $1.94 billion, a P/E ratio of -143.63 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. ProPetro has a 52 week low of $4.51 and a 52 week 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 (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.09. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The company had revenue of $270.69 million during the quarter, compared to analysts' expectations of $277.49 million. During the same period last year, the firm posted $0.09 earnings per share. The business's revenue was down 24.6% on a year-over-year basis. Analysts expect that ProPetro will post -0.07 earnings per share for the current year.

Hedge Funds Weigh In On ProPetro

A number of hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL acquired a new stake in shares of ProPetro in the 3rd quarter valued at $2,280,000. American Century Companies Inc. raised its holdings in shares of ProPetro by 5.4% during the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company's stock worth $19,644,000 after buying an additional 192,638 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of ProPetro during the 3rd quarter worth $1,569,000. Quantbot Technologies LP boosted its stake in ProPetro by 50.5% in the third quarter. Quantbot Technologies LP now owns 262,804 shares of the company's stock valued at $1,377,000 after buying an additional 88,152 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in ProPetro by 103.4% in the third quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company's stock valued at $8,636,000 after buying an additional 837,776 shares in the last quarter. Institutional investors own 84.70% of the company's stock.

ProPetro Company Profile

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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