ProPetro (NYSE:PUMP) Sets New 12-Month High – Should You Buy?

ProPetro Holding Corp. (NYSE:PUMP)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $15.53 and last traded at $15.44, with a volume of 375867 shares traded. The stock had previously closed at $15.08.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PUMP shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Barclays increased their target price on shares of ProPetro from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Bank of America assumed coverage on shares of ProPetro in a research report on Monday, March 30th. They set a “buy” rating and a $18.00 price target for the company. Citigroup upgraded ProPetro from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $12.00 to $16.00 in a research report on Wednesday, April 15th. Finally, The Goldman Sachs Group initiated coverage on ProPetro in a research report on Friday, April 10th. They set a “neutral” rating and a $15.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

ProPetro Price Performance

The company has a market capitalization of $1.90 billion, a PE ratio of 1,545.60 and a beta of 0.62. 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’s 50-day moving average is $13.31 and its 200-day moving average is $10.77.

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 firm had revenue of $289.68 million during the quarter, compared to analysts’ expectations of $279.90 million. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. Equities analysts predict that ProPetro Holding Corp. will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProPetro

A number of large investors have recently added to or reduced their stakes in the business. Sourcerock Group LLC lifted its stake in ProPetro by 66.4% in the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after purchasing an additional 3,355,848 shares during the last quarter. Philosophy Capital Management LLC raised its holdings in ProPetro by 14.8% during the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock valued at $21,208,000 after buying an additional 520,327 shares during the last quarter. American Century Companies Inc. boosted its position in ProPetro by 5.4% during the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock valued at $19,644,000 after buying an additional 192,638 shares during the period. VR Advisory Services Ltd increased its position in shares of ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after acquiring an additional 2,504,634 shares during the period. Finally, Valiant Capital Management L.P. bought a new position in ProPetro during the 4th quarter valued at approximately $34,890,000. 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.