ProPetro (NYSE:PUMP) Reaches New 52-Week High – Still a Buy?

ProPetro Holding Corp. (NYSE:PUMP) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.14 and last traded at $11.8470, with a volume of 3526750 shares trading hands. The stock had previously closed at $11.83.

Analysts Set New Price Targets

Several analysts recently weighed in on PUMP shares. Citigroup boosted their price objective on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Piper Sandler lifted their target price on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Zacks Research raised ProPetro from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $7.00 to $13.00 in a research report on Wednesday, December 10th. Finally, Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 target price on the stock in a report on Wednesday, December 10th. Four 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 data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.67.

ProPetro Stock Performance

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 fifty day simple moving average of $10.13 and a two-hundred day simple moving average of $7.67. The firm has a market capitalization of $1.23 billion, a P/E ratio of -69.68 and a beta of 0.77.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Stanley Laman Group Ltd. acquired a new stake in ProPetro in the fourth quarter worth $217,000. Jaffetilchin Investment Partners LLC bought a new position in shares of ProPetro during the 4th quarter worth about $240,000. SG Americas Securities LLC grew its stake in shares of ProPetro by 53.1% in the 4th quarter. SG Americas Securities LLC now owns 52,599 shares of the company’s stock valued at $500,000 after buying an additional 18,251 shares during the period. JPMorgan Chase & Co. increased its position in ProPetro by 103.4% in the 3rd 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. Finally, Tudor Investment Corp ET AL bought a new stake in ProPetro in the 3rd quarter valued at about $2,280,000. Institutional investors and hedge funds 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.