ProPetro (NYSE:PUMP) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of ProPetro (NYSE:PUMP) from a hold rating to a sell rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other research analysts also recently commented on PUMP. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $16.00 price objective on shares of ProPetro in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a research report on Friday, July 31st. Piper Sandler decreased their target price on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus lowered their price target on shares of ProPetro from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Finally, Barclays dropped their price target on shares of ProPetro from $23.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.12.

ProPetro Trading Up 3.5%

NYSE:PUMP opened at $11.36 on Friday. The stock has a market cap of $1.40 billion, a PE ratio of -103.27 and a beta of 0.77. ProPetro has a fifty-two week low of $4.52 and a fifty-two week high of $18.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.09 and a quick ratio of 4.00. The stock’s 50-day moving average is $12.21 and its two-hundred day moving average is $13.76.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.06). The company had revenue of $305.81 million during the quarter, compared to analysts’ expectations of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.ProPetro’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. As a group, equities research analysts forecast that ProPetro will post -0.09 earnings per share for the current fiscal year.

Insider Transactions at ProPetro

In other news, Director G Larry Lawrence sold 35,831 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total value of $399,873.96. Following the completion of the sale, the director directly owned 28,181 shares of the company’s stock, valued at approximately $314,499.96. This represents a 55.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Adam Munoz sold 70,696 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total transaction of $789,674.32. Following the completion of the sale, the chief operating officer owned 148,691 shares in the company, valued at $1,660,878.47. This represents a 32.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ProPetro

Several large investors have recently added to or reduced their stakes in PUMP. Aster Capital Management DIFC Ltd bought a new stake in shares of ProPetro in the 4th quarter worth approximately $56,000. Dark Forest Capital Management LP acquired a new position in shares of ProPetro in the third quarter valued at $57,000. Raymond James Financial Inc. acquired a new position in shares of ProPetro in the second quarter valued at $60,000. Tower Research Capital LLC TRC lifted its position in ProPetro by 70.5% in the second 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 period. Finally, Public Employees Retirement System of Ohio bought a new position in ProPetro in the second quarter worth $74,000. 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.