ProPetro (NYSE:PUMP) Earns Buy Rating from Analysts at Bank of America

Investment analysts at Bank of America started coverage on shares of ProPetro (NYSE:PUMP) in a report released on Monday. The firm set a “buy” rating and a $18.00 price target on the stock. Bank of America‘s price objective suggests a potential upside of 22.62% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Piper Sandler increased their price target 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. Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 price objective on the stock in a research note on Wednesday, December 10th. JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $7.00 to $13.00 in a report on Wednesday, December 10th. Barclays lifted their target price on ProPetro from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.57.

ProPetro Trading Down 0.1%

PUMP opened at $14.68 on Monday. ProPetro has a 12-month low of $4.51 and a 12-month high of $15.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 1.24. The stock has a market capitalization of $1.79 billion, a PE ratio of 1,467.90 and a beta of 0.70. The firm’s fifty day moving average price is $12.29 and its 200 day moving average price is $9.70.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data 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 company had revenue of $289.68 million during the quarter, compared to analyst estimates of $279.90 million. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period last year, the business earned ($0.17) EPS. As a group, research analysts expect that ProPetro will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On ProPetro

Institutional investors and hedge funds have recently bought and sold shares of the business. Aster Capital Management DIFC Ltd bought a new position in ProPetro in the fourth quarter worth about $56,000. Raymond James Financial Inc. bought a new position in shares of ProPetro during the second quarter valued at approximately $60,000. PharVision Advisers LLC acquired a new stake in shares of ProPetro during the 2nd quarter worth approximately $60,000. Tower Research Capital LLC TRC lifted its holdings in shares of ProPetro by 70.5% in the 2nd 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, Trek Financial LLC bought a new stake in shares of ProPetro in the 3rd quarter worth approximately $57,000. 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.