Weiss Ratings Reaffirms "Sell (D)" Rating for ProPetro (NYSE:PUMP)

Key Points

• The stock rating for ProPetro (NYSE:PUMP) was reaffirmed as "Sell (D)" by Weiss Ratings, indicating continued negative sentiment among analysts.
• ProPetro reported a quarterly earnings miss with an EPS of ($0.07), falling short of the consensus estimate, and experienced a 9.2% decline in revenue compared to the previous year.
• Despite the negative outlook, two analysts rated the stock as a Buy, while the consensus rating remains a “Hold” with a price target of $8.00.

ProPetro (NYSE:PUMP - Get Free Report)'s stock had its "sell (d)" rating reissued by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the company. Stifel Nicolaus set a $10.00 price objective on ProPetro and gave the company a "buy" rating in a research note on Wednesday, July 16th. Citigroup lifted their price objective on ProPetro from $5.00 to $6.00 and gave the company a "neutral" rating in a research note on Wednesday. Piper Sandler reduced their price objective on ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Finally, Zacks Research lowered ProPetro from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $8.00.

ProPetro Stock Up 4.4%

PUMP opened at $5.68 on Wednesday. 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 stock has a market capitalization of $590.55 million, a price-to-earnings ratio of -3.86 and a beta of 1.00. The business has a 50-day moving average of $4.99 and a two-hundred day moving average of $5.60. ProPetro has a 12 month low of $4.51 and a 12 month high of $11.17.

ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly 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 during 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%. The firm's quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) EPS. On average, research analysts expect that ProPetro will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On ProPetro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New Age Alpha Advisors LLC lifted its position in ProPetro by 57.8% during the 1st quarter. New Age Alpha Advisors LLC now owns 172,403 shares of the company's stock worth $1,267,000 after acquiring an additional 63,120 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in ProPetro during the 1st quarter worth approximately $89,000. Principal Financial Group Inc. raised its position in shares of ProPetro by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 395,202 shares of the company's stock valued at $2,905,000 after purchasing an additional 10,434 shares in the last quarter. GAMMA Investing LLC raised its position in shares of ProPetro by 714.0% in the 1st quarter. GAMMA Investing LLC now owns 36,191 shares of the company's stock valued at $266,000 after purchasing an additional 31,745 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of ProPetro by 14.0% in the 1st quarter. New York State Common Retirement Fund now owns 26,796 shares of the company's stock valued at $197,000 after purchasing an additional 3,298 shares in the last quarter. 84.70% of the stock is 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.

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