ProPetro (NYSE:PUMP) Trading 7% Higher – What’s Next?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price was up 7% during mid-day trading on Tuesday . The stock traded as high as $9.97 and last traded at $10.0750. Approximately 251,219 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,704,593 shares. The stock had previously closed at $9.42.

Analyst Ratings Changes

Several research firms have recently weighed in on PUMP. Zacks Research raised ProPetro from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 23rd. Barclays reaffirmed a “neutral” rating on shares of ProPetro in a research note on Wednesday, December 17th. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and increased their target price for the company from $7.00 to $13.00 in a research note on Wednesday, December 10th. Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 price target for the company in a research note on Wednesday, December 10th. Finally, Citigroup upped their price target on shares of ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ProPetro has a consensus rating of “Hold” and an average target price of $12.50.

ProPetro Trading Up 8.3%

The stock’s 50-day moving average price is $9.87 and its 200 day moving average price is $7.14. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.26 and a quick ratio of 1.19. The firm has a market capitalization of $1.06 billion, a PE ratio of -59.94 and a beta of 0.75.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, October 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.09. The company had revenue of $293.92 million for 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%.ProPetro’s revenue was down 18.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.32) earnings per share. On average, sell-side analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of ProPetro

A number of hedge funds have recently bought and sold shares of PUMP. Trek Financial LLC purchased a new position in shares of ProPetro in the 3rd quarter valued at $57,000. Dark Forest Capital Management LP purchased a new position in ProPetro in the third quarter valued at about $57,000. MQS Management LLC bought a new position in ProPetro in the third quarter worth about $58,000. PharVision Advisers LLC purchased a new stake in shares of ProPetro during the second quarter valued at about $60,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of ProPetro during the second quarter valued at about $60,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

About ProPetro

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.