ProPetro Holding Corp. (NYSE:PUMP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

ProPetro Holding Corp. (NYSE:PUMP) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $16.1250.

A number of brokerages have commented on PUMP. Citigroup lifted their price target on ProPetro from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group began coverage on ProPetro in a research note on Friday, April 10th. They issued a “neutral” rating and a $15.00 price target on the stock. Weiss Ratings cut ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Bank of America began coverage on ProPetro in a research note on Monday, March 30th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $14.00 to $23.00 in a research report on Thursday, May 7th.

Institutional Investors Weigh In On ProPetro

A number of large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in shares of ProPetro by 87.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 45,065 shares of the company’s stock worth $649,000 after buying an additional 20,968 shares during the last quarter. Lazard Asset Management LLC grew its position in shares of ProPetro by 6.3% in the 1st quarter. Lazard Asset Management LLC now owns 54,637 shares of the company’s stock worth $787,000 after buying an additional 3,219 shares during the last quarter. Corsair Capital Management L.P. bought a new stake in shares of ProPetro in the 1st quarter worth approximately $720,000. Cooper Creek Partners Management LLC bought a new stake in shares of ProPetro in the 1st quarter worth approximately $42,748,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in ProPetro by 561.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,653,600 shares of the company’s stock worth $23,828,000 after buying an additional 1,403,600 shares in the last quarter. 84.70% of the stock is currently owned by institutional investors.

ProPetro Price Performance

Shares of ProPetro stock opened at $17.49 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57. The business’s 50 day simple moving average is $14.87 and its two-hundred day simple moving average is $12.01. The stock has a market capitalization of $2.14 billion, a P/E ratio of -158.95 and a beta of 0.75. ProPetro has a one year low of $4.51 and a one year high of $18.50.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The business had revenue of $270.69 million for the quarter, compared to analysts’ expectations of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The business’s quarterly revenue was down 24.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. Analysts forecast that ProPetro will post -0.1 EPS for the current year.

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.