ProPetro (NYSE:PUMP) Upgraded at Zacks Research

ProPetro (NYSE:PUMP) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports. Zacks Research also issued estimates for ProPetro’s Q1 2027 earnings at $0.21 EPS, Q2 2027 earnings at $0.05 EPS and Q3 2027 earnings at $0.05 EPS.

PUMP has been the topic of several other research reports. Piper Sandler dropped their price target on ProPetro from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Barclays reiterated an “equal weight” rating and set a $5.00 price objective (down from $6.00) on shares of ProPetro in a research report on Monday, October 13th. Citigroup lifted their price objective on shares of ProPetro from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Stifel Nicolaus set a $10.00 price objective on shares of ProPetro and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of ProPetro in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ProPetro has an average rating of “Hold” and a consensus target price of $6.80.

ProPetro Price Performance

NYSE PUMP opened at $6.31 on Thursday. The stock has a market capitalization of $655.53 million, a P/E ratio of -4.29 and a beta of 1.00. ProPetro has a 1 year low of $4.51 and a 1 year high of $11.17. The business’s fifty day moving average is $5.15 and its two-hundred day moving average is $5.50. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). The company had revenue of $326.15 million during the quarter, compared to the consensus estimate of $331.26 million. ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. ProPetro’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS. On average, research analysts forecast that ProPetro will post 0.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProPetro

Several institutional investors and hedge funds have recently modified their holdings of PUMP. Sourcerock Group LLC grew its holdings in shares of ProPetro by 66.4% during the 2nd quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after acquiring an additional 3,355,848 shares in the last quarter. Nuveen LLC purchased a new position in shares of ProPetro during the 1st quarter valued at $11,757,000. VR Advisory Services Ltd acquired a new stake in shares of ProPetro in the 1st quarter valued at $8,634,000. Pacer Advisors Inc. acquired a new stake in shares of ProPetro in the 1st quarter valued at $7,401,000. Finally, Philosophy Capital Management LLC lifted its stake in shares of ProPetro by 23.2% in the 1st quarter. Philosophy Capital Management LLC now owns 2,820,887 shares of the company’s stock valued at $20,734,000 after purchasing an additional 531,751 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

About ProPetro

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.