ProPetro (NYSE:PUMP) Stock Price Expected to Rise, Barclays Analyst Says

ProPetro (NYSE:PUMP) had its price objective increased by analysts at Barclays from $11.00 to $12.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential upside of 0.76% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and upped their price target for the company from $7.00 to $13.00 in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Citigroup raised their price target on shares of ProPetro from $6.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Piper Sandler upped their price target on shares of ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Finally, Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 price objective on the stock in a research report on Wednesday, December 10th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ProPetro currently has an average rating of “Hold” and a consensus target price of $12.83.

ProPetro Stock Up 2.2%

ProPetro stock opened at $11.91 on Wednesday. The firm has a 50 day simple moving average of $10.57 and a 200 day simple moving average of $8.34. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.13. ProPetro has a 1-year low of $4.51 and a 1-year high of $13.25. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 1,191.00 and a beta of 0.77.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The firm had revenue of $289.68 million during the quarter, compared to analyst estimates of $279.90 million. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, analysts predict that ProPetro will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On ProPetro

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC lifted its position in ProPetro by 127.3% in the 2nd quarter. Squarepoint Ops LLC now owns 102,166 shares of the company’s stock worth $610,000 after buying an additional 57,226 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of ProPetro in the 3rd quarter worth approximately $1,569,000. American Century Companies Inc. lifted its holdings in shares of ProPetro by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 3,556,150 shares of the company’s stock worth $21,230,000 after acquiring an additional 107,090 shares during the last quarter. Towle & Co. boosted its stake in shares of ProPetro by 11.5% in the 3rd quarter. Towle & Co. now owns 1,129,914 shares of the company’s stock valued at $5,921,000 after purchasing an additional 116,260 shares in the last quarter. Finally, Dana Investment Advisors Inc. grew its holdings in shares of ProPetro by 21.9% during the 3rd quarter. Dana Investment Advisors Inc. now owns 932,470 shares of the company’s stock valued at $4,886,000 after purchasing an additional 167,509 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

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.