Analysts Set ProPetro Holding Corp. (NYSE:PUMP) Target Price at $14.50

ProPetro Holding Corp. (NYSE:PUMP) has received an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.50.

Several brokerages have issued reports on PUMP. Piper Sandler upped their price target on shares of ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. The Goldman Sachs Group began coverage on shares of ProPetro in a report on Friday, April 10th. They issued a “neutral” rating and a $15.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Citigroup raised shares of ProPetro from a “neutral” rating to a “buy” rating and upped their price target for the company from $12.00 to $16.00 in a report on Wednesday. Finally, Bank of America began coverage on shares of ProPetro in a report on Monday, March 30th. They issued a “buy” rating and a $18.00 price target on the stock.

ProPetro Trading Down 5.5%

Shares of PUMP opened at $13.95 on Thursday. ProPetro has a twelve month low of $4.51 and a twelve month high of $15.49. The firm has a market capitalization of $1.71 billion, a P/E ratio of 1,394.70 and a beta of 0.62. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average is $13.18 and its two-hundred day moving average is $10.61.

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

Institutional Trading of ProPetro

Several institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of ProPetro in the fourth quarter valued at about $111,000. Alpine Global Management LLC purchased a new position in shares of ProPetro during the fourth quarter valued at approximately $118,000. Invesco Ltd. lifted its stake in shares of ProPetro by 23.4% during the fourth quarter. Invesco Ltd. now owns 407,031 shares of the company’s stock valued at $3,871,000 after buying an additional 77,088 shares during the period. XTX Topco Ltd lifted its stake in shares of ProPetro by 52.1% during the fourth quarter. XTX Topco Ltd now owns 178,056 shares of the company’s stock valued at $1,693,000 after buying an additional 60,997 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in shares of ProPetro during the fourth quarter valued at approximately $1,235,000. 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.