ProPetro (NYSE:PUMP) Stock Price Up 5.8% – Still a Buy?

ProPetro Holding Corp. (NYSE:PUMP) shot up 5.8% during mid-day trading on Wednesday . The company traded as high as $13.04 and last traded at $13.0110. 234,076 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 4,007,385 shares. The stock had previously closed at $12.30.

Analyst Upgrades and Downgrades

Several research analysts have commented on PUMP shares. Odeon Capital Group assumed coverage on shares of ProPetro in a report on Thursday, May 28th. They set a “buy” rating for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.00 target price on shares of ProPetro in a report on Wednesday, June 3rd. Weiss Ratings downgraded ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Stifel Nicolaus set a $23.00 price target on ProPetro in a research note on Thursday, July 2nd. Finally, Bank of America initiated coverage on ProPetro in a research note on Monday, March 30th. They set a “buy” rating and a $18.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ProPetro currently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

ProPetro Trading Up 4.6%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.64. The stock’s fifty day moving average is $15.55 and its 200 day moving average is $13.31. The stock has a market cap of $1.58 billion, a P/E ratio of -116.79 and a beta of 0.72.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.09. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The company had revenue of $270.69 million for the quarter, compared to analysts’ expectations of $277.49 million. During the same period in the previous year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. As a group, equities research analysts predict that ProPetro Holding Corp. will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of ProPetro

Several hedge funds and other institutional investors have recently bought and sold shares of PUMP. PKO BP BANKOWY Universal Pension Society JSC lifted its position in ProPetro by 0.9% in the second quarter. PKO BP BANKOWY Universal Pension Society JSC now owns 870,485 shares of the company’s stock worth $12,483,000 after buying an additional 8,000 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in ProPetro during the second quarter valued at $18,700,000. Bank of America Corp DE raised its stake in shares of ProPetro by 1.1% in the first quarter. Bank of America Corp DE now owns 719,724 shares of the company’s stock valued at $10,371,000 after acquiring an additional 7,532 shares during the period. California State Teachers Retirement System lifted its holdings in shares of ProPetro by 80.9% in the 1st quarter. California State Teachers Retirement System now owns 138,818 shares of the company’s stock worth $2,000,000 after acquiring an additional 62,090 shares during the last quarter. Finally, Readystate Asset Management LP bought a new stake in shares of ProPetro in the 1st quarter worth about $1,516,000. Hedge funds and other institutional investors 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.