ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company operates through Pressure Pumping and All Other segments. The company offers hydraulic fracturing, cementing, acidizing, and coiled tubing services. It serves the upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources in the Permian Basin. As of December 31, 2020, the company's fleet comprised 10 hydraulic fracturing units with 1,373,000 hydraulic horsepower. ProPetro Holding Corp. was founded in 2005 and is headquartered in Midland, Texas.
IPO Year: 2017
Exchange: NYSE
Website: propetroservices.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/16/2024 | Buy → Hold | The Benchmark Company | |
| 7/19/2023 | Hold → Buy | The Benchmark Company | |
| 1/19/2023 | Hold | The Benchmark Company | |
| 1/17/2023 | $12.00 | Buy → Neutral | Citigroup |
| 1/10/2023 | $14.00 | Equal Weight → Overweight | Barclays |
| 5/26/2022 | $16.00 → $14.00 | Overweight → Underweight | JP Morgan |
| 5/5/2022 | Hold → Buy | Tudor, Pickering, Holt & Co. | |
| 3/7/2022 | $12.00 → $16.50 | Neutral | Piper Sandler |
10-Q - ProPetro Holding Corp. (0001680247) (Filer)
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10-Q - ProPetro Holding Corp. (0001680247) (Filer)
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Stifel analyst Stephen Gengaro maintains ProPetro Holding (NYSE:PUMP) with a Buy and lowers the price target from $13 to $12.
The deal structure includes cash consideration, future earnout incentives, and potential growth capex considerations tailored to support and align with Aqua Prop and ProPetro growth targets and objectives, a construct designed to maximize value creation for ProPetro shareholders.
As of May 22, 2024, five stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of major overbought players in this sector. NextDecade Corporation (NASDAQ:NEXT) On May 20, Abu Dhabi Oil & Gas giant ADNOC announced it secur
Barclays analyst Derek Podhaizer maintains ProPetro Holding (NYSE:PUMP) with a Overweight and raises the price target from $12 to $13.
Benchmark analyst Kurt Hallead reiterates ProPetro Holding (NYSE:PUMP) with a Hold.
Guidance The Company now expects to be on the low end of our prior guidance range for full-year 2024 incurred capital expenditures of $200 million to $250 million. Frac fleet effective utilization is expected to be between 14 to 15 fleets during the second quarter 2024. Outlook Mr. Sledge added, "Looking ahead, we expect demand for our differentiated service quality and next generation equipment to remain strong. We believe the recent transition and investment in our fleet will contribute to industry-leading efficiencies and high customer satisfaction, as evidenced by our recently announced multi-year agreement to advance our partnership with ExxonMobil. Additionally, with our strong bala
ProPetro Holding (NYSE:PUMP) reported quarterly earnings of $0.18 per share which beat the analyst consensus estimate of $0.07 by 157.14 percent. This is a 28 percent decrease over earnings of $0.25 per share from the same period last year. The company reported quarterly sales of $405.843 million which beat the analyst consensus estimate of $392.121 million by 3.50 percent. This is a 4.19 percent decrease over sales of $423.570 million the same period last year.
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) has entered into a three year Hydraulic Fracturing Services Agreement (the "Agreement") to provide electric hydraulic fracturing services to ExxonMobil in the Permian Basin. ProPetro's Chief Executive Officer, Sam Sledge, commented, "We're thrilled to announce a key strategic step for ProPetro as we strengthen our longstanding relationship with ExxonMobil. Having collaborated with them since 2015, our partnership has always been rooted in safety and operational excellence. Now, by introducing our FORCESM electric fleets, we're moving towards a more sustainable and industrialized future together."
Piper Sandler analyst Ian Macpherson maintains ProPetro Holding (NYSE:PUMP) with a Overweight and lowers the price target from $13 to $11.
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ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) today announced financial and operational results for the third quarter of 2024. Third Quarter 2024 Results and Highlights Total revenue of $361 million increased 1% compared to the prior quarter. Net loss was $137 million ($1.32 loss per diluted share) as compared to a net loss of $4 million in the prior quarter ($0.03 loss per diluted share). The net loss in the third quarter included a noncash impairment expense of $189 million related to the Company's Tier II diesel-only pumping units and related conventional equipment in our hydraulic fracturing operating segment which currently represent a diminishing part of our
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that it will issue its third quarter of 2024 earnings release on Wednesday, October 30, 2024, before the opening of trading. ProPetro will also host a conference call on Wednesday, October 30, 2024, at 8:00 AM Central Time to discuss its third quarter results. To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro's website, www.propetroservices.com. A replay of the conference call will be available for one
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) today announced financial and operational results for the second quarter of 2024. Second Quarter 2024 Results and Highlights Total revenue of $357 million decreased 12% compared to the prior quarter. Net loss was $4 million ($0.03 loss per diluted share) as compared to net income of $20 million in the prior quarter ($0.18 income per diluted share). Adjusted EBITDA(1) of $66 million was 19% of revenue and decreased 29% compared to the prior quarter. Net cash provided by operating activities was $105 million with Free Cash Flow(2) of $48 million. Year-to-date net cash provided by operating activities, Free Cash
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that it will issue its second quarter of 2024 earnings release on Wednesday, July 31, 2024, before the opening of trading. ProPetro will also host a conference call on Wednesday, July 31, 2024, at 8:00 AM Central Time to discuss its second quarter results. To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro's website, www.propetroservices.com. A replay of the conference call will be available for one we
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced the acquisition of Aqua Prop LLC ("Aqua Prop"), an innovative provider of cost-effective wet sand solutions. The all cash acquisition, initially valued at $35.6 million, net of working capital, advances ProPetro's commitment to delivering more integrated and industrial solutions while adding value for all stakeholders. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240603121051/en/(Graphic: Business Wire) Sam Sledge, CEO of ProPetro, stated, "The acquisition of Aqua Prop aligns seamlessly with our strategy of pursuing more innovation and integration
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that, effective May 8, 2024, Alex Volkov has been appointed to its Board of Directors (the "Board") as ExxonMobil's designee pursuant to the Investor Rights Agreement (the "Investor Rights Agreement"), dated as of December 31, 2018, by and between the Company and Pioneer Natural Resources Pumping Services LLC, a Delaware limited liability company ("Pioneer"), and a wholly owned subsidiary of Exxon Mobil Corporation ("ExxonMobil"). Mr. Volkov is currently the Transition Executive responsible for planning the integration of Pioneer Natural Resources Company with ExxonMobil's Unconventional business. Additionall
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) today announced financial and operational results for the first quarter of 2024. First Quarter 2024 Results and Highlights Total revenue of $406 million increased 17% compared to the prior quarter. Net Income was $20 million ($0.18 income per diluted share) as compared to a net loss of $17 million in the prior quarter ($0.16 loss per diluted share). Adjusted EBITDA(1) of $93 million was 23% of revenue and increased 45% compared to the prior quarter with 50% incremental margins.(2) Incurred capital expenditures were $40 million. Awarded a long-term contract from ExxonMobil for two FORCESM electric-powered hydra
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) has entered into a three year Hydraulic Fracturing Services Agreement (the "Agreement") to provide electric hydraulic fracturing services to ExxonMobil in the Permian Basin. ProPetro's Chief Executive Officer, Sam Sledge, commented, "We're thrilled to announce a key strategic step for ProPetro as we strengthen our longstanding relationship with ExxonMobil. Having collaborated with them since 2015, our partnership has always been rooted in safety and operational excellence. Now, by introducing our FORCESM electric fleets, we're moving towards a more sustainable and industrialized future together." "This step is a significan
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) today announced that the Company's Board of Directors approved an increase and extension of ProPetro's share repurchase program. The program permits the repurchase of up to an additional $100 million of the Company's common shares for a total of $200 million and extends the expiration date by one year to May 31, 2025. "We are pleased to announce the expansion of our share repurchase program, which reflects the strong support of our Board of Directors in our strategy and ability to execute," stated Sam Sledge, Chief Executive Officer. "We are confident we have the right strategy in place to benefit from our position as a soph
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that it will issue its first quarter of 2024 earnings release on Wednesday, May 1, 2024, before the opening of trading. ProPetro will also host a conference call on Wednesday, May 1, 2024, at 8:00 AM Central Time to discuss its first quarter results. To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro's website, www.propetroservices.com. A replay of the conference call will be available for one week fol
The Benchmark Company downgraded ProPetro from Buy to Hold
The Benchmark Company upgraded ProPetro from Hold to Buy
The Benchmark Company initiated coverage of ProPetro with a rating of Hold
Citigroup downgraded ProPetro from Buy to Neutral and set a new price target of $12.00
Barclays upgraded ProPetro from Equal Weight to Overweight and set a new price target of $14.00
JP Morgan downgraded ProPetro from Overweight to Underweight and set a new price target of $14.00 from $16.00 previously
Tudor, Pickering, Holt & Co. upgraded ProPetro from Hold to Buy
Piper Sandler reiterated coverage of ProPetro Holding with a rating of Neutral and set a new price target of $16.50 from $12.00 previously
B. Riley reiterated coverage of ProPetro with a rating of Neutral and set a new price target of $12.50 from $9.50 previously
Citigroup reiterated coverage of ProPetro with a rating of and set a new price target of $14.00 from $9.00 previously
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that, effective May 8, 2024, Alex Volkov has been appointed to its Board of Directors (the "Board") as ExxonMobil's designee pursuant to the Investor Rights Agreement (the "Investor Rights Agreement"), dated as of December 31, 2018, by and between the Company and Pioneer Natural Resources Pumping Services LLC, a Delaware limited liability company ("Pioneer"), and a wholly owned subsidiary of Exxon Mobil Corporation ("ExxonMobil"). Mr. Volkov is currently the Transition Executive responsible for planning the integration of Pioneer Natural Resources Company with ExxonMobil's Unconventional business. Additionall
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that it has appointed Shelby Fietz as its Chief Commercial Officer ("CCO") and Celina Davila as its Chief Accounting Officer ("CAO"), effective November 26, 2023. Chief Commercial Officer Appointment Sam Sledge, Chief Executive Officer, said, "I'm pleased to announce Shelby Fietz's promotion to Chief Commercial Officer of ProPetro. With over a decade of experience here at ProPetro, Shelby has been instrumental in leading our commercial execution and maintaining key customer relationships. His expertise is crucial as our industry evolves towards an industrial model, necessitating sophisticated multi-service
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that it has appointed Mary P. Ricciardello to its Board of Directors (the "Board"), effective January 20, 2023. Ms. Ricciardello is a seasoned financial executive with over thirty years of experience serving on boards, and as an executive in finance and accounting roles, in the energy industry. Phillip Gobe, Chairman of the ProPetro Board, said, "We are pleased to welcome Mary to the ProPetro Board and look forward to benefitting from her deep industry knowledge as we create a stronger, more resilient, and diversified company. Mary's appointment demonstrates our ongoing commitment to maintaining a highly diver
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced the appointment of John J. ("Jody") Mitchell as General Counsel and Corporate Secretary, effective January 1, 2023. Mr. Mitchell, who currently serves as Vice President and Deputy General Counsel of ProPetro, will succeed Newton W. ("Trey") Wilson III, who will retire, effective December 31, 2022. Sam Sledge, ProPetro Chief Executive Officer, said, "We are pleased to announce Jody's appointment as ProPetro's next General Counsel. Jody has quickly become a valuable member of the ProPetro leadership team with his significant legal expertise, commercial acumen, leadership capabilities, and well-rounded experience
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) today announced the further transition for certain key roles within its executive leadership team that will be effective August 31,2021. This includes: The transition of Phillip Gobe, the Company's Chairman and Chief Executive Officer, to Executive Chairman; The promotion of Sam Sledge, the Company's President, to Chief Executive Officer and his appointment to ProPetro's Board of Directors.; and The expansion of Adam Muñoz's leadership position from Chief Operating Officer to President and Chief Operating Officer. "Today's announcement marks the culmination of our Board of Directors' comprehensive succession planning p
EXTON, Pa.--(BUSINESS WIRE)--Immunome, Inc. (Nasdaq: IMNM), a biopharmaceutical company utilizing a proprietary human memory B cell platform to discover and develop first-in-class antibody therapeutics, with a focus on oncology and infectious diseases including COVID-19, today announced the recent appointments of Richard Baron to Immunome’s Board of Directors and as Audit Committee Chair, and Sandra Stoneman, Esq. as Chief Legal Officer and Corporate Secretary. The company also today announced that its President and Chief Executive Officer, Purnanand Sarma, Ph.D. is the recipient of TiE Boston’s 2020 Lifetime Achievement Award. The award recognizes individuals who have made invaluab
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) today announced financial and operational results for the third quarter of 2024. Third Quarter 2024 Results and Highlights Total revenue of $361 million increased 1% compared to the prior quarter. Net loss was $137 million ($1.32 loss per diluted share) as compared to a net loss of $4 million in the prior quarter ($0.03 loss per diluted share). The net loss in the third quarter included a noncash impairment expense of $189 million related to the Company's Tier II diesel-only pumping units and related conventional equipment in our hydraulic fracturing operating segment which currently represent a diminishing part of our
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that it will issue its third quarter of 2024 earnings release on Wednesday, October 30, 2024, before the opening of trading. ProPetro will also host a conference call on Wednesday, October 30, 2024, at 8:00 AM Central Time to discuss its third quarter results. To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro's website, www.propetroservices.com. A replay of the conference call will be available for one
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) today announced financial and operational results for the second quarter of 2024. Second Quarter 2024 Results and Highlights Total revenue of $357 million decreased 12% compared to the prior quarter. Net loss was $4 million ($0.03 loss per diluted share) as compared to net income of $20 million in the prior quarter ($0.18 income per diluted share). Adjusted EBITDA(1) of $66 million was 19% of revenue and decreased 29% compared to the prior quarter. Net cash provided by operating activities was $105 million with Free Cash Flow(2) of $48 million. Year-to-date net cash provided by operating activities, Free Cash
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that it will issue its second quarter of 2024 earnings release on Wednesday, July 31, 2024, before the opening of trading. ProPetro will also host a conference call on Wednesday, July 31, 2024, at 8:00 AM Central Time to discuss its second quarter results. To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro's website, www.propetroservices.com. A replay of the conference call will be available for one we
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced the acquisition of Aqua Prop LLC ("Aqua Prop"), an innovative provider of cost-effective wet sand solutions. The all cash acquisition, initially valued at $35.6 million, net of working capital, advances ProPetro's commitment to delivering more integrated and industrial solutions while adding value for all stakeholders. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240603121051/en/(Graphic: Business Wire) Sam Sledge, CEO of ProPetro, stated, "The acquisition of Aqua Prop aligns seamlessly with our strategy of pursuing more innovation and integration
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) today announced financial and operational results for the first quarter of 2024. First Quarter 2024 Results and Highlights Total revenue of $406 million increased 17% compared to the prior quarter. Net Income was $20 million ($0.18 income per diluted share) as compared to a net loss of $17 million in the prior quarter ($0.16 loss per diluted share). Adjusted EBITDA(1) of $93 million was 23% of revenue and increased 45% compared to the prior quarter with 50% incremental margins.(2) Incurred capital expenditures were $40 million. Awarded a long-term contract from ExxonMobil for two FORCESM electric-powered hydra
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that it will issue its first quarter of 2024 earnings release on Wednesday, May 1, 2024, before the opening of trading. ProPetro will also host a conference call on Wednesday, May 1, 2024, at 8:00 AM Central Time to discuss its first quarter results. To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro's website, www.propetroservices.com. A replay of the conference call will be available for one week fol
ProPetro Holding Corp. ("ProPetro" or "the Company") (NYSE:PUMP) today announced financial and operational results for the fourth quarter and full year of 2023. Full Year 2023 Results and Highlights Revenue was $1.6 billion, a 27% increase over 2022. Net income increased significantly to $86 million as compared to $2 million in 2022. Adjusted EBITDA(1) was $404 million, a 28% increase over 2022. Repurchased and retired 5.8 million shares representing approximately 5.0% of our outstanding common stock since plan inception in May 2023. Deployed two FORCESM electric hydraulic fracturing fleets operating under contract and expect two additional FORCESM fleets to be deployed in
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) today announced that it will issue its fourth quarter of 2023 earnings release on Wednesday, February 21, 2024, before the opening of trading. ProPetro will also host a conference call on Wednesday, February 21, 2024 at 8:00 AM Central Time to discuss its fourth quarter results. To access the conference call, U.S. callers may dial toll free 1-844-340-9046 and international callers may dial 1-412-858-5205. Please call ten minutes ahead of the scheduled start time to ensure a proper connection. The call will also be webcast on ProPetro's website, www.propetroservices.com. A replay of the conference call will be available for
ProPetro Holding Corp. ("ProPetro" or the "Company") (NYSE:PUMP) has announced the successful acquisition of the assets and business operations of Par Five Energy Services LLC ("Par Five"). Specializing in cementing services in the Delaware Basin, Par Five's business complements ProPetro's existing cementing business that operates predominantly in the Midland Basin region of the Permian Basin. The acquired business will be integrated within ProPetro's existing cementing operating team and brand. This transaction forms a comprehensive cementing business to better serve Permian operators and is complementary to ProPetro's industry-leading hydraulic fracturing and wireline completions business