ProPetro (NYSE:PUMP) Shares Gap Up – Still a Buy?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $9.82, but opened at $10.51. ProPetro shares last traded at $9.8360, with a volume of 269,051 shares traded.

Analyst Ratings Changes

PUMP has been the subject of several recent research reports. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price objective for the company in a report on Wednesday, December 10th. Citigroup boosted their price target on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $7.00 to $13.00 in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Finally, Zacks Research upgraded ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.50.

ProPetro Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average price is $9.89 and its two-hundred day moving average price is $7.00. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -57.79 and a beta of 0.75.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The firm had revenue of $293.92 million during the quarter, compared to analysts’ expectations of $266.25 million. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The company’s revenue was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.32) EPS. On average, equities research analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michele Vion sold 6,916 shares of the firm’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $10.64, for a total value of $73,586.24. Following the completion of the transaction, the director owned 45,029 shares in the company, valued at $479,108.56. This trade represents a 13.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director G Larry Lawrence sold 27,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $10.84, for a total value of $292,680.00. Following the sale, the director owned 35,831 shares in the company, valued at $388,408.04. The trade was a 42.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.60% of the company’s stock.

Institutional Trading of ProPetro

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in ProPetro by 103.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock valued at $8,636,000 after acquiring an additional 837,776 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of ProPetro during the third quarter worth approximately $2,280,000. Hudson Bay Capital Management LP acquired a new stake in ProPetro during the 3rd quarter worth approximately $124,000. Dark Forest Capital Management LP bought a new stake in ProPetro in the 3rd quarter valued at $57,000. Finally, XTX Topco Ltd acquired a new position in ProPetro in the 3rd quarter valued at $613,000. 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.