ProPetro (NYSE:PUMP) Sets New 52-Week High on Earnings Beat

ProPetro Holding Corp. (NYSE:PUMPGet Free Report)’s stock price reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as $13.25 and last traded at $11.2790, with a volume of 5083106 shares. The stock had previously closed at $12.01.

The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.14. The company had revenue of $289.68 million for the quarter, compared to the consensus estimate of $279.90 million. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. ProPetro’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS.

Key Stories Impacting ProPetro

Here are the key news stories impacting ProPetro this week:

Analyst Ratings Changes

A number of brokerages have recently commented on PUMP. Barclays restated a “neutral” rating on shares of ProPetro in a research note on Wednesday, December 17th. Zacks Research raised ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Piper Sandler lifted their target price on shares of ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Citigroup increased their price target on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.67.

Read Our Latest Stock Report on PUMP

Institutional Investors Weigh In On ProPetro

Institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in ProPetro during the 4th quarter worth approximately $56,000. Trek Financial LLC purchased a new position in shares of ProPetro in the third quarter valued at approximately $57,000. Dark Forest Capital Management LP acquired a new stake in shares of ProPetro in the third quarter worth approximately $57,000. MQS Management LLC purchased a new stake in shares of ProPetro during the third quarter worth approximately $58,000. Finally, PharVision Advisers LLC acquired a new position in ProPetro in the 2nd quarter valued at $60,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Stock Down 6.1%

The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $10.38 and a two-hundred day simple moving average of $8.09. The company has a market cap of $1.17 billion, a PE ratio of -66.34 and a beta of 0.77.

ProPetro Company Profile

(Get Free Report)

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.

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