ProPetro (NYSE:PUMP) Shares Gap Down – Should You Sell?
by Michael Walen · The Markets DailyProPetro Holding Corp. (NYSE:PUMP – Get Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $11.80, but opened at $11.35. ProPetro shares last traded at $11.52, with a volume of 449,456 shares traded.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on PUMP shares. Stifel Nicolaus set a $23.00 price objective on shares of ProPetro in a research report on Thursday, July 2nd. Bank of America began coverage on shares of ProPetro in a research note on Monday, March 30th. They set a “buy” rating and a $18.00 target price for the company. Weiss Ratings cut ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Piper Sandler increased their price objective on ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, Barclays raised ProPetro from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $23.00 in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ProPetro currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.
Check Out Our Latest Stock Report on ProPetro
ProPetro Stock Down 5.2%
The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -101.55 and a beta of 0.72. The firm’s 50 day simple moving average is $14.57 and its 200-day simple moving average is $13.64.
ProPetro (NYSE:PUMP – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The company had revenue of $270.69 million during the quarter, compared to the consensus estimate of $277.49 million. During the same quarter in the prior year, the firm earned $0.09 EPS. ProPetro’s quarterly revenue was down 24.6% on a year-over-year basis. On average, sell-side analysts anticipate that ProPetro Holding Corp. will post -0.02 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its position in ProPetro by 26.3% in the second quarter. Wedge Capital Management L L P NC now owns 143,025 shares of the company’s stock valued at $2,051,000 after purchasing an additional 29,745 shares during the period. PKO BP BANKOWY Universal Pension Society JSC boosted its holdings in ProPetro by 0.9% in the 2nd quarter. PKO BP BANKOWY Universal Pension Society JSC now owns 870,485 shares of the company’s stock valued at $12,483,000 after purchasing an additional 8,000 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in ProPetro during the 2nd quarter worth approximately $18,700,000. Bank of America Corp DE increased its position in ProPetro by 1.1% during the 1st quarter. Bank of America Corp DE now owns 719,724 shares of the company’s stock worth $10,371,000 after purchasing an additional 7,532 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of ProPetro by 80.9% during the 1st quarter. California State Teachers Retirement System now owns 138,818 shares of the company’s stock worth $2,000,000 after buying an additional 62,090 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.
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.