ProPetro (NYSE:PUMP) Shares Up 6.5% – Here’s What Happened

ProPetro Holding Corp. (NYSE:PUMP)’s stock price shot up 6.5% on Tuesday . The company traded as high as $14.69 and last traded at $14.81. 139,224 shares changed hands during trading, a decline of 95% from the average session volume of 2,911,428 shares. The stock had previously closed at $13.90.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PUMP. Bank of America began coverage on ProPetro in a research note on Monday, March 30th. They set a “buy” rating and a $18.00 price objective for the company. Piper Sandler increased their price objective on ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Barclays increased their price objective on ProPetro from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Finally, Citigroup raised ProPetro from a “neutral” rating to a “buy” rating and raised their price target for the stock from $12.00 to $16.00 in a research note on Wednesday, April 15th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

ProPetro Stock Performance

The business has a fifty day simple moving average of $13.38 and a 200-day simple moving average of $10.81. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.89 billion, a P/E ratio of 1,539.80 and a beta of 0.62.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Wednesday, February 18th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. The business had revenue of $289.68 million during the quarter, compared to the consensus estimate of $279.90 million. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, sell-side analysts predict that ProPetro Holding Corp. will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On ProPetro

Institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in ProPetro in the fourth quarter worth $56,000. Trek Financial LLC bought a new position in ProPetro in the third quarter worth $57,000. Dark Forest Capital Management LP bought a new position in ProPetro in the third quarter worth $57,000. MQS Management LLC bought a new position in ProPetro in the third quarter worth $58,000. Finally, Raymond James Financial Inc. bought a new position in ProPetro in the second quarter worth $60,000. Institutional investors 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.