ProPetro (NYSE:PUMP) Announces Earnings Results

ProPetro (NYSE:PUMP) announced its earnings results on Wednesday. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.14, Briefing.com reports. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. During the same period in the prior year, the company earned ($0.17) EPS. The company’s revenue was down 9.6% on a year-over-year basis.

ProPetro Stock Performance

NYSE:PUMP traded up $0.48 during trading hours on Wednesday, hitting $12.49. 699,545 shares of the company were exchanged, compared to its average volume of 2,997,191. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.19. ProPetro has a 52-week low of $4.51 and a 52-week high of $13.25. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -73.76 and a beta of 0.77. The company’s 50 day moving average price is $10.38 and its 200-day moving average price is $8.07.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PUMP. Aster Capital Management DIFC Ltd purchased a new stake in ProPetro in the fourth quarter valued at approximately $56,000. Dark Forest Capital Management LP purchased a new stake in shares of ProPetro in the 3rd quarter valued at $57,000. Raymond James Financial Inc. acquired a new stake in shares of ProPetro in the second quarter worth $60,000. Tower Research Capital LLC TRC raised its holdings in shares of ProPetro by 70.5% during 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 last quarter. Finally, iSAM Funds UK Ltd acquired a new position in ProPetro during the second quarter valued at $102,000. 84.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.