ProPetro (NYSE:PUMP) Now Covered by Odeon Capital Group

Stock analysts at Odeon Capital Group initiated coverage on shares of ProPetro (NYSE:PUMP) in a report released on Thursday. The firm set a “buy” rating on the stock.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings downgraded ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Citigroup upped their price objective on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Piper Sandler upped their price objective on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Bank of America initiated coverage on ProPetro in a research note on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on ProPetro in a research note on Friday, April 10th. They issued a “neutral” rating and a $15.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ProPetro presently has an average rating of “Moderate Buy” and an average target price of $16.50.

ProPetro Stock Down 2.9%

Shares of NYSE:PUMP traded down $0.46 during trading on Thursday, reaching $15.36. 2,624,703 shares of the stock were exchanged, compared to its average volume of 3,714,791. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57. ProPetro has a 1-year low of $4.51 and a 1-year high of $18.50. The stock has a fifty day moving average of $15.50 and a two-hundred day moving average of $12.39. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -139.77 and a beta of 0.75.

ProPetro (NYSE:PUMP) last issued its earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The company had revenue of $270.69 million for the quarter, compared to analyst estimates of $277.49 million. During the same period in the prior year, the firm earned $0.09 earnings per share. ProPetro’s revenue for the quarter was down 24.6% on a year-over-year basis. Research analysts anticipate that ProPetro will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of ProPetro

Several institutional investors and hedge funds have recently modified their holdings of PUMP. Aster Capital Management DIFC Ltd purchased a new position in shares of ProPetro during the 4th quarter valued at about $56,000. Dark Forest Capital Management LP purchased a new position in shares of ProPetro during the 3rd quarter valued at about $57,000. MQS Management LLC purchased a new position in shares of ProPetro during the 3rd quarter valued at about $58,000. Raymond James Financial Inc. purchased a new position in shares of ProPetro during the 2nd quarter valued at about $60,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of ProPetro by 70.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after buying an additional 4,461 shares in the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.