ProPetro (NYSE:PUMP) Earns Sell (D) Rating from Weiss Ratings

ProPetro (NYSE:PUMP)‘s stock had its “sell (d)” rating reissued by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

PUMP has been the subject of several other reports. Stifel Nicolaus set a $10.00 price objective on ProPetro and gave the stock a “buy” rating in a report on Wednesday, July 16th. Piper Sandler reduced their price objective on ProPetro from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Zacks Research downgraded ProPetro from a “hold” rating to a “strong sell” rating in a report on Monday, September 1st. Finally, Citigroup lifted their price objective on ProPetro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, ProPetro presently has a consensus rating of “Hold” and an average price target of $8.00.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $5.49 on Wednesday. ProPetro has a 1-year low of $4.51 and a 1-year high of $11.17. The business has a fifty day moving average price of $4.99 and a 200-day moving average price of $5.58. The company has a market capitalization of $570.80 million, a PE ratio of -3.73 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.The business had revenue of $326.15 million during the quarter, compared to the consensus estimate of $331.26 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. ProPetro’s quarterly revenue was down 9.2% compared to the same quarter last year. As a group, equities analysts expect that ProPetro will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sourcerock Group LLC boosted its position 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. American Century Companies Inc. lifted its position in shares of ProPetro by 3.1% during the 2nd quarter. American Century Companies Inc. now owns 3,556,150 shares of the company’s stock valued at $21,230,000 after buying an additional 107,090 shares in the last quarter. Philosophy Capital Management LLC lifted its position in shares of ProPetro by 23.2% during the 1st quarter. Philosophy Capital Management LLC now owns 2,820,887 shares of the company’s stock valued at $20,734,000 after buying an additional 531,751 shares in the last quarter. Nuveen LLC purchased a new position in shares of ProPetro during the 1st quarter valued at about $11,757,000. Finally, VR Advisory Services Ltd purchased a new position in shares of ProPetro during the 1st quarter valued at about $8,634,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Company Profile

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.