Piper Sandler Gives a Buy Rating to Propetro Holding (PUMP)

Piper Sandler analyst Luke Lemoine assigned a Buy rating to Propetro Holding (PUMP – Research Report) today and set a price target of $11.00. The company’s shares closed last Friday at $9.29.

Lemoine covers the Energy sector, focusing on stocks such as Solaris Oilfield Infrastructure, Helix Energy, and Schlumberger. According to TipRanks, Lemoine has an average return of 6.6% and a 59.20% success rate on recommended stocks.

In addition to Piper Sandler, Propetro Holding also received a Buy from Barclays’s Derek Podhaizer in a report issued today. However, on May 2, Benchmark Co. maintained a Hold rating on Propetro Holding (NYSE: PUMP).

Based on Propetro Holding’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $405.84 million and a net profit of $19.93 million. In comparison, last year the company earned a revenue of $423.57 million and had a net profit of $28.73 million

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Propetro Holding (PUMP) Company Description:

ProPetro Holding Corp. is an oilfield services company, which engages in the provision of hydraulic fracturing and other complementary services. It operates through the following segments: Hydraulic Fracturing, Cementing, Coil Tubing, Flowback, Surface Drilling, and Drilling. The Hydraulic Fracturing segment intends to optimize hydrocarbon flow paths during the completion phase of horizontal shale wellbores. The Cementing segment provides isolation between fluid zones behind the casing to minimize potential damage to hydrocarbon bearing formations or the integrity of freshwater aquifers, and provides structural integrity for the casing by securing it to the earth. The Coil Tubing segment involves injecting coiled tubing into wells to perform various completion well intervention operations. The Flowback segment consistsof production testing, solids control, hydrostatic testing and torque services. The Surface Drilling segment offers cost-effective, pre-set surface air drilling services to target depths of approximately 4,000 feet in areas of fragile geology. The company was founded by Dale Redman and Jeffrey David Smith in 2005 and is headquartered in Midland, TX.