ProPetro (NYSE:PUMP) Reaches New 1-Year High – Time to Buy?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $11.77 and last traded at $11.37, with a volume of 238591 shares changing hands. The stock had previously closed at $11.00.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $7.00 to $13.00 in a research report on Wednesday, December 10th. Zacks Research raised ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Piper Sandler lifted their price objective on shares of ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Finally, Barclays reissued a “neutral” rating on shares of ProPetro in a report on Wednesday, December 17th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ProPetro presently has an average rating of “Hold” and a consensus target price of $12.67.

ProPetro Price Performance

The business’s fifty day moving average price is $9.86 and its 200 day moving average price is $7.37. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.19. The stock has a market cap of $1.18 billion, a P/E ratio of -66.87 and a beta of 0.75.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The company had revenue of $293.92 million during the quarter, compared to analysts’ expectations of $266.25 million. During the same period in the prior year, the company earned ($1.32) EPS. ProPetro’s revenue was down 18.6% compared to the same quarter last year. Sell-side analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at ProPetro

In other news, Director G Larry Lawrence sold 27,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $10.84, for a total value of $292,680.00. Following the completion of the sale, the director directly owned 35,831 shares in the company, valued at $388,408.04. This trade represents a 42.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michele Vion sold 6,916 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $10.64, for a total value of $73,586.24. Following the sale, the director owned 45,029 shares of the company’s stock, valued at approximately $479,108.56. This represents a 13.31% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of ProPetro during the 2nd quarter valued at $60,000. PharVision Advisers LLC purchased a new position in ProPetro in the second quarter valued at approximately $60,000. Tower Research Capital LLC TRC grew its holdings in ProPetro by 70.5% during the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after purchasing an additional 4,461 shares during the period. Trek Financial LLC purchased a new stake in ProPetro in the third quarter worth $57,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of ProPetro during the 3rd quarter valued at $57,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

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.