ProPetro slides after boosted $150 mln equity raise

ProPetro Holding

27/01/2026 12:21

** Oilfield services provider ProPetro PUMP.N shares down 6.7% at $10.38 after upsized $150 mln equity raise

** Midland, Texas-based firm early Tues announced pricing 15 mln share offering at $10

** Offering size increased from 12.5 mln shares, priced at 10.1% discount to stock's last close

** Co intends to use net offering proceeds for general corporate purposes, including to fund growth capital for additional power generation equipment

** Goldman Sachs lead bookrunner, joined by Barclays, JP Morgan and BofA

** After the bell Mon, co said it expects Q4 rev of $289-$291 mln, above Wall Street consensus of ~$275 mln, per LSEG data

** Co had about 105 mln shares prior to offering, per the prospectus

** Through Mon, shares up 17% to begin 2026 and up about 80% over the past six months

** 4 of 9 analysts rate the stock "strong buy" or "buy", 5 "hold"; median PT $12, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))