Momentum Stock Watch: ProPetro Holding Corp. (PUMP)

Company Profile:

ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company offers hydraulic fracturing services; and a suite of well completion and production services, including cementing, acidizing, coiled tubing, flowback, surface air drilling, and drilling 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. The company’s fleet consists of 18 hydraulic fracturing units with 780,000 hydraulic horsepower. ProPetro Holding Corp. was founded in 2005 and is headquartered in Midland, Texas.

Recent News:

The company will issue its second quarter 2018 earnings release on Tuesday, August 7, 2018 after the close of trading. ProPetro will host a conference call on Wednesday, August 8, 2018 at 8:00 AM Central Time to discuss its second quarter results and recent developments.

On May 10, 2018, the company announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock by certain selling securityholders. The underwriters intend to offer the shares to the public at a price of $19.10 per share.

The company reported total revenue for the first quarter of 2018 increased approximately 23% to $385.2 million, compared to $313.7 million for the fourth quarter of 2017. Net income was $36.7 million, or $0.42 per diluted share, as compared to $10.1 million, or $0.12 per diluted share, for the fourth quarter of 2017.

 

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

PUMP’s strengths can be seen in its strong profitability and robust efficiency compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator, the RSI stands at 52.35 with positive bias. We rate ProPetro Holding Corp. (PUMP) a STRONG BUY.

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