Bank of America Begins Coverage on ProPetro (NYSE:PUMP)

Stock analysts at Bank of America assumed coverage on shares of ProPetro (NYSE:PUMP) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set a “buy” rating and a $18.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 24.93% from the company’s current price.

Other research analysts also recently issued research reports about the company. Piper Sandler increased their price target on ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Barclays lifted their price objective on ProPetro from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and upped their target price for the company from $7.00 to $13.00 in a research report on Wednesday, December 10th. Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 price target for the company in a research report on Wednesday, December 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.57.

ProPetro Stock Performance

ProPetro stock opened at $14.41 on Monday. ProPetro has a 12-month low of $4.51 and a 12-month high of $15.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 1.24. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 1,440.80 and a beta of 0.70. The firm’s fifty day moving average price is $12.46 and its 200 day moving average price is $9.84.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PUMP. Caitong International Asset Management Co. Ltd acquired a new position in shares of ProPetro in the 4th quarter worth approximately $111,000. Alpine Global Management LLC acquired a new stake in shares of ProPetro during the 4th quarter valued at approximately $118,000. Invesco Ltd. lifted its stake in ProPetro by 23.4% during the fourth quarter. Invesco Ltd. now owns 407,031 shares of the company’s stock worth $3,871,000 after purchasing an additional 77,088 shares during the last quarter. XTX Topco Ltd lifted its stake in ProPetro by 52.1% during the fourth quarter. XTX Topco Ltd now owns 178,056 shares of the company’s stock worth $1,693,000 after purchasing an additional 60,997 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in ProPetro in the fourth quarter worth $1,235,000. 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.