ProPetro (NYSE:PUMP) Sets New 1-Year High – Here’s What Happened

Shares of ProPetro Holding Corp. (NYSE:PUMP) hit a new 52-week high on Monday . The company traded as high as $15.49 and last traded at $15.1210, with a volume of 290676 shares changing hands. The stock had previously closed at $14.69.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Barclays boosted their price objective on shares of ProPetro from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Piper Sandler lifted their target price 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. Bank of America started coverage on shares of ProPetro in a research report on Monday. They issued a “buy” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $7.00 to $13.00 in a research report on Wednesday, December 10th. Finally, Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 target price on the stock in a research note on Wednesday, December 10th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.57.

ProPetro Stock Performance

The firm has a market cap of $1.84 billion, a PE ratio of 1,504.20 and a beta of 0.70. The stock has a 50-day moving average price of $12.29 and a 200 day moving average price of $9.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 1.24.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.14. The firm had revenue of $289.68 million for the quarter, compared to the consensus estimate of $279.90 million. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. Research analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On ProPetro

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of ProPetro in the 4th quarter valued at $56,000. Raymond James Financial Inc. acquired a new stake in ProPetro in the 2nd quarter valued at $60,000. PharVision Advisers LLC bought a new position in ProPetro during the second quarter worth $60,000. Tower Research Capital LLC TRC boosted its holdings in ProPetro by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock worth $64,000 after purchasing an additional 4,461 shares during the period. Finally, Trek Financial LLC bought a new stake in ProPetro during the third quarter valued at $57,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

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.