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

ProPetro Holding Corp. (NYSE:PUMP) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $12.30 and last traded at $12.3750, with a volume of 839390 shares trading hands. The stock had previously closed at $11.27.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PUMP shares. Citigroup lifted their price target on ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Zacks Research upgraded shares of ProPetro from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and raised their price target for the company from $7.00 to $13.00 in a report on Wednesday, December 10th. Finally, Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.67.

ProPetro Trading Up 10.0%

The firm has a market capitalization of $1.29 billion, a P/E ratio of -72.76 and a beta of 0.77. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average is $10.31 and its 200-day moving average is $7.90.

Institutional Trading of ProPetro

Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of ProPetro during the fourth quarter worth $758,000. Alyeska Investment Group L.P. purchased a new position in shares of ProPetro during the fourth quarter worth approximately $2,135,000. Charles Schwab Investment Management Inc. grew its stake in shares of ProPetro by 6.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,401,711 shares of the company’s stock valued at $22,840,000 after buying an additional 148,779 shares during the last quarter. Van ECK Associates Corp grew its holdings in ProPetro by 18.7% in the 4th quarter. Van ECK Associates Corp now owns 1,202,648 shares of the company’s stock worth $11,437,000 after acquiring an additional 189,265 shares during the last quarter. Finally, SIR Capital Management L.P. raised its stake in shares of ProPetro by 1,374.3% during the fourth quarter. SIR Capital Management L.P. now owns 1,346,074 shares of the company’s stock valued at $12,801,000 after acquiring an additional 1,254,774 shares during the last quarter. Institutional investors 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.