$PUMP

ProPetro's Frac Outlook Improves as Earnings Shift Toward Power Platform, Morgan Stanley Says

ProPetro Holding (PUMP) is seeing steady improvement in its Permian Basin operations, and most of the company's longer-term earnings are expected to come from its distributed natural-gas power platform, Morgan Stanley said Monday in a report.ProPetro is targeting the deployment of nearly 2.6 gigawatts of modular gas-fired generation through 2033, and as that buildout progresses, consolidated EBITDA is expected to rise to more than $900 million by 2033 from $195 million in 2026, with power contributing roughly 75% of total earnings, Morgan Stanley said.Further upside depends on securing additional data-center projects, where longer-duration contracts and larger scale support stronger valuation multiples, the report said.Morgan Stanley also sees a supportive fracturing backdrop into 2027, with tighter effective horsepower supply helping utilization and pricing.Morgan Stanley initiated coverage of ProPetro stock with an equal-weight rating and $13 price target.Price: $10.80, Change: $-0.65, Percent Change: -5.68%

Morgan Stanley Initiates ProPetro Holding at Equalweight With $13 Price Target

ProPetro Holding (PUMP) has an average rating of overweight and mean price target of $16.45, according to analysts polled by FactSet.

Sector Update: Energy Stocks Decline Premarket Monday

Energy stocks were declining premarket Monday, with the State Street Energy Select Sector SPDR ETF (XLE) 0.3% lower.The United States Oil Fund (USO) was marginally lower and The United States Natural Gas Fund (UNG) was 1% higher.Front-month US West Texas Intermediate crude oil was 0.4% higher at $102.32 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.8% to $110.13 per barrel, and natural gas futures were up 1.1% at $2.81 per 1 million British Thermal Units.Hess Midstream (HESM) shares were up more than 2% after the company posted higher Q1 earnings and revenue.Equinor (EQNR) is extending key supplier deals for drilling and well services with an aggregate value of about 17 billion Norwegian kroner ($1.83 billion), the company said. Equinor stock was up more than 1% premarket.ProPetro (PUMP) shares were down more than 5% after the company said it plans to offer $500 million in convertible senior notes due 2031 in a private placement, with an additional $75 million option for initial purchasers.

ProPetro Plans $500 Million Convertible Senior Notes Offering

ProPetro (PUMP) said Monday it plans to offer $500 million in convertible senior notes due 2031 in a private placement, with an additional $75 million option for initial purchasers.The notes will be senior unsecured obligations that will pay semi-annual interest and mature on Nov. 15, 2031, unless earlier repurchased, redeemed or converted, the company said.The company said it intends to use net proceeds to fund capped call transactions to reduce potential dilution, with the rest allocated to general corporate purposes.Shares of ProPetro were down more than 3% in Monday premarket activity.

ProPetro Swings to Q1 Loss, Revenue Falls; Shares Drop

ProPetro (PUMP) shares fell 0.8% in Thursday morning trading after the company swung to a Q1 loss and reported a decline in revenue.The company reported a Q1 net loss of $0.03 per diluted share, swinging from a profit of $0.09 a year earlier.Analysts polled by FactSet expected a loss of $0.11.Revenue for the quarter ended March 31 was $270.7 million, down from $359.4 million a year earlier.Analysts surveyed by FactSet expected $277.5 million.Price: $18.13, Change: $-0.07, Percent Change: -0.38%

Earnings Flash (PUMP) ProPetro Posts Q1 Loss $0.03 a Share, vs. FactSet Est of $0.11 Loss