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ProPetro Holding

ProPetro Holding Corp is a Texas-based oilfield services company. It provides hydraulic fracturing, wireline, and other complementary services to oil and gas companies engaged in the exploration and production of North American oil and natural gas resources. The company focused on the Permian Basin. The operating segments of the company are hydraulic fracturing which generates key revenue, wireline, cementing, and coiled tubing.

ProPetro Holding Corp

PROPETRO HOLDING ORD

As of Nov. 7, 2024, three 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&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;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 <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Select Water Solutions Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WTTR#NYSE">WTTR</a>)</h3>
<ul>
<li>On Nov. 5, Select Water Solutions reported better-than-expected third-quarter revenue results.  John Schmitz, Select&#8217;s Chairman of the Board, President and Chief Executive Officer, stated, &#8220;During the third quarter Select delivered another quarter of continued margin improvement and profitability, while generating solid free cash flow. Supported by revenue growth and margin improvement in our Water Infrastructure segment, our unique growth story continued as we were able to improve consolidated gross margins and increase net income and adjusted EBITDA during the third quarter despite activity pullbacks in the broader macro environment.&#8221; The company's stock gained around 29% over the past five days and has a <a href="https://www.benzinga.com/quote/WTTR">52-week high of $14.10</a>.</li>
<li>RSI Value: 84.39&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>WTTR Price Action: Shares of Select Water Solutions gained 25.5% to close at $13.97 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">Propetro Holding Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>)</h3>
<ul>
<li>On Oct. 30, ProPetro posted downbeat quarterly results. Sam Sledge, Chief Executive Officer, commented, &#8220;ProPetro&#8217;s third quarter results reflect our team&#8217;s success in advancing our strategy, even in a turbulent market environment. Thanks to our decisive actions and despite moderated customer spending and activity levels, ProPetro delivered strong financial performance in the third quarter, while returning capital to shareholders and capturing additional market share.&#8221; The company's stock gained around 14% over the past five days and <a href="https://www.benzinga.com/quote/PUMP">has a 52-week high</a> of $10.02.</li>
<li>RSI Value: 71.32</li>
<li>PUMP Price Action: Shares of Propetro Holding gained 16.3% to close at $8.43 on Wednesday.</li>
</ul>
<h3 class="wp-block-heading">Natural Gas Services Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NGS#NYSE">NGS</a>)</h3>
<ul>
<li>Natural Gas Services Group will host a conference call to review its third-quarter financial results on Friday, Nov. 15. The company's stock gained around 19% over the past five days and has a <a href="https://www.benzinga.com/quote/NGS">52-week high</a> of $25.24.</li>
<li>RSI Value: 77.03</li>
<li>NGS Price Action: Shares of Natural Gas Services gained 12.8% to close at $22.90 on Wednesday. </li>
</ul>
Read More: 
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<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/41776764/jim-cramer-this-financial-stock-is-a-buy-likes-broadcom">Jim Cramer: This Financial Stock Is A Buy, Likes Broadcom</a></li>
</ul>

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PUMP

WTTR

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Shares of oil and gas companies are trading higher following reports suggesting OPEC+ will delay output increases.

Citigroup analyst Scott Gruber maintains ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) with a Neutral and lowers the price target from $8.5 to $8.

Price Target

Analyst Ratings

Citigroup Maintains Neutral on ProPetro Holding, Lowers Price Target to $8

Guidance
For the second time this year, the Company is reducing its full-year 2024 capital expenditure guidance to be between $150 million to $175 million, down from prior guidance of $175 million to $200 million.

Guidance

ProPetro Lowers FY24 Capex Outlook to $150M-$175M From $175M-$200M Prior

ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) reported quarterly losses of $(1.32) per share which missed the analyst consensus estimate of $0.07 by 1985.71 percent. This is a 525.81 percent decrease over earnings of $0.31 per share from the same period last year. The company reported quarterly sales of $360.870 million which missed the analyst consensus estimate of $364.741 million by 1.06 percent. This is a 14.85 percent decrease over sales of $423.804 million the same period last year.

Earnings

Earnings Misses

ProPetro Q3 2024 GAAP EPS $(1.32) Misses $0.07 Estimate, Sales $360.870M Miss $364.741M Estimate

Crude oil prices plummeted over 6% on Monday, approaching levels not seen since early October, as investors processed news of targeted <a href="https://www.benzinga.com/news/24/10/41567809/oil-etfs-plunge-premarket-after-israels-strikes-on-iran">Israeli airstrikes in Iran</a>.
U.S. energy stocks followed suit during premarket trading in New York, with sector ETFs posting sharp losses at the start of the week. 
Contracts on West Texas Intermediate (WTI) light crude, as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), fell over 6% to around $67 per barrel on Monday morning, marking what could be the worst one-day drop since July 2022.
The sell-off followed Israeli airstrikes over the weekend that targeted military facilities in Iran but spared the country's oil infrastructure.
According to the Israel Defense Forces, the strikes were "targeted and precise," focusing on Iranian missile production and air defense installations. 
This measured response likely averted a deeper crisis in the oil market, as analysts warned that a broader assault on Iran's energy sector could have risked up to 1.7 million barrels per day (bpd) of Iranian crude exports and led to further regional destabilization. 
U.S. President Joe Biden had cautioned Israel against actions that would directly impact Iran's oil output, warning that such moves could prompt Tehran to retaliate by targeting oil shipping routes in the Middle East.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="503" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-1024x503.png" alt="" class="wp-image-617043" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-1024x503.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-768x377.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274-1536x754.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/28085347/image-274.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">Analysts Expect Oil Prices To Remain Under Pressure</h3>
Goldman Sachs analysts had previously estimated that a sustained 1 million bpd disruption to Iranian oil supply could have pushed Brent prices up by $10–$20 per barrel. 
With no immediate threat to Iran's oil exports, the bank's forecast for Brent reaching the mid-$80s by late 2025 now appears overly optimistic compared to the consensus view.
The restrained nature of Israel's actions has led some analysts to predict that oil prices will remain subdued, especially in light of broader market dynamics. 
Warren Patterson, head of commodity strategy at ING Group, highlighted that Israel's focused response leaves "the door open for de-escalation," which seems to be reflected in Monday&#8217;s price action.
"If we do see some de-escalation, it would allow fundamentals to dictate price direction once again," Patterson explained, adding that a projected market surplus in 2025 &#8220;would mean that oil prices are&nbsp;likely to remain under pressure.&#8221;
Ole Hansen, head of commodity strategy at Saxo Bank, indicated that crude prices have now retraced most of the gains made in early October, which were fueled by Chinese economic stimulus and concerns over potential disruptions to Iran's supply. Hansen pointed out that "sluggish demand" and the impending reintroduction of OPEC+ barrels could further weigh on oil prices.
<h3 class="wp-block-heading">China's Declining Demand, OPEC+ Production Decisions Add To Bearish Sentiment</h3>
On the demand side, Chinese consumption—accounting for roughly 15% of global oil demand—has been trending downward since May 2024
According to Pascal Devaux, an economist at BNP Paribas, this decline is tied not only to China's economic slowdown but also to structural changes within its energy sector. "Around 45% of new car registrations in China are for electric vehicles, either battery-powered or hybrid," Devaux said, underscoring the impact of the country's low-carbon transition on oil demand.
Capital Economics forecasts that if OPEC+ follows through on its plan to unwind voluntary production cuts initiated in October, an increase in oil supply combined with weak demand growth could drive prices lower throughout the remainder of 2024 and into 2025.
<h3 class="wp-block-heading">US Energy Stocks See Sharp Losses</h3>
Sector ETFs posted notable declines in early trading:
<ul>
<li>The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), which tracks large-cap U.S. energy companies, was down 2.3% at the start of Monday's session. APA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>), Diamondback Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>), and Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) all registered losses between 3% and 4%.</li>
</ul>
<ul>
<li>SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>), a broader measure of exploration and production stocks, slid 2.8%. Kosmos Energy Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOS#NYSE">KOS</a>) and Vital Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VTLE#NYSE">VTLE</a>) are both down 4%.</li>
</ul>
<ul>
<li>VanEck Oil Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) dropped 1.7%. Companies like ProPetro Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>), Liberty Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBRT#NYSE">LBRT</a>), and Noble Corporation plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NE#NYSE">NE</a>) were hit particularly hard, each falling by about 4%.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41571526/exxon-shell-warren-buffett-backed-occidental-petroleum-and-other-oil-stocks-tumble-in-premarket-afte">Exxon, Shell, Warren Buffett-Backed Occidental Petroleum And Other Oil Stocks Tumble In Premarket After Israel&#8217;s Strikes On Iran</a></li>
</ul>
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Crude Oil Faces Steepest One-Day Drop In Over Two Years, Energy Stocks Plunge: Prices 'Are Likely To Remain Under Pressure,' Analyst Says

Barclays analyst David Anderson maintains ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) with a Overweight and lowers the price target from $13 to $12.

Barclays Maintains Overweight on ProPetro Holding, Lowers Price Target to $12

Stifel analyst Stephen Gengaro maintains ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) with a Buy and lowers the price target from $12 to $11.

Stifel Maintains Buy on ProPetro Holding, Lowers Price Target to $11

ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) reported quarterly losses of $(0.08) per share which missed the analyst consensus estimate of $0.08 by 200 percent. This is a 123.53 percent decrease over earnings of $0.34 per share from the same period last year. The company reported quarterly sales of $367.021 million which beat the analyst consensus estimate of $366.712 million by 0.08 percent. This is a 15.68 percent decrease over sales of $435.249 million the same period last year.

Earnings Beats

ProPetro Holding Q2 2024 GAAP EPS $(0.08) Misses $0.08 Estimate, Sales $367.021M Beat $366.712M Estimate

Stifel analyst Stephen Gengaro maintains ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) with a Buy and lowers the price target from $13 to $12.

Stifel Maintains Buy on ProPetro Holding, Lowers Price Target to $12

Enbridge Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/enb#NYSE">ENB</a>) has unveiled plans for an expansion of the Westcoast Pipeline in British Columbia to address the rising natural gas demand in the province and the U.S. Pacific Northwest.
The Sunrise Expansion Program suggests extending the southern segment of the pipeline, referred to as Transmission-South.
The expansion project will add a 137-kilometer looping pipeline with a 42-inch diameter, significantly boosting the natural gas transportation capacity by 300 million cubic feet per day. The development is intended to ensure a steady supply of natural gas for various uses, including heating homes and businesses, powering hospitals and schools, and generating electricity.
The Westcoast Pipeline, operational for 70 years, has a history dating back to the 1950s when the initial 30-inch diameter pipeline was installed, followed by a 36-inch diameter pipeline in the 1970s. The system is regulated by the Canada Energy Regulator (&quot;CER&quot;) as it is an interprovincial pipeline.
Enbridge submitted its application for the Sunrise Expansion Program to the CER on May 30, 2024. The company anticipates starting construction in 2026, with a projected completion date by the end of 2028.
Westcoast Energy Inc., an Enbridge subsidiary, owns and operates the extensive Westcoast/BC Pipeline system, which spans more than 2,900 kilometers from Fort Nelson and Gordondale near the Alberta border to the Canada-U.S. border and Huntington/Sumas.
To minimize the project&#39;s impacts on local communities, Enbridge will implement a socio-economic management plan, recognizing the presence of indigenous groups in the area. The project will include temporary lodging and parking facilities, requiring approximately 10 acres of land to accommodate up to 120 workers during construction.
Furthermore, the company is committed to prioritizing workplace health and safety training, human rights protection, and human trafficking prevention awareness throughout the project.
The Sunrise Expansion Program reflects Enbridge&#39;s commitment to meeting the growing energy needs, while addressing socio-economic and environmental considerations in the regions it serves.
<h3>Zacks Rank &amp; Key Picks</h3>
Currently, Enbridge carries a Zack Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked companies mentioned below. The three companies presently carry a Zacks Rank #2 (Buy).
Enterprise Products Partners&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epd#NYSE">EPD</a>) is among the leading midstream energy players in North America. It has an extensive network of pipelines that spreads across more than 50,000 miles.
The Zacks Consensus Estimate for EPD&#39;s 2024 and 2025 earnings per share is pegged at $2.73 and $2.87, respectively. The company has a Zacks Style Score of A for Value and Momentum. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past seven days.
ProPetro Holding Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pump#NYSE">PUMP</a>) is an oilfield services provider operating primarily in the Permian Basin spread over West Texas and New Mexico. ProPetro&#39;s strategic transition to next-generation equipment, including FORCE electric fleets, underscores its market leadership and cutting-edge technology.
The Zacks Consensus Estimate for PUMP&#39;s 2024 and 2025 EPS is pegged at 67 cents and 83 cents, respectively. The company has a Zacks Style Score of A for Value and B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
USA Compression Partners, LP&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usac#NYSE">USAC</a>) is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USA Compression Partners earns its revenues from the overall horsepower use of natural gas transported rather than the price. As such, the partnership is largely insulated from fluctuations in commodity prices.
The Zacks Consensus Estimate for USAC&#39;s 2024 and 2025 EPS is pegged at 77 cents and 98 cents, respectively. The company has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2288018/enbridge-enb-announces-plans-to-expand-westcoast-pipeline?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2288018">To read this article on Zacks.com click here.</a>

Small Cap

USAC

Enbridge Announces Plans to Expand Westcoast Pipeline

Cheniere Energy Partners, L.P.&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cqp#NYSE">CQP</a>) has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
The company&#39;s earnings beat the Zacks Consensus Estimate in the trailing four quarters, delivering an average surprise of 28.8%.
<h3>What&#39;s Favoring the Stock?</h3>
Cheniere Partners holds a strong market position as a leading LNG exporter in the United States. The company&#39;s Sabine Pass LNG terminal, with a production capacity of approximately 30 Mtpa, positions it favorably to capitalize on the growing global demand for LNG. The terminal&#39;s strategic location and connectivity to major pipelines further enhance its competitive advantage.
Cheniere Partners boasts a robust liquidity position, which includes $2.1 billion in total available liquidity as of Mar 31, 2024. This liquidity is composed of $333 million in cash and cash equivalents, $59 million in restricted cash, and substantial available commitments under credit facilities. This strong liquidity enables the partnership to manage its operations smoothly and invest in growth opportunities without facing financial constraints.
Cheniere Partners has a history of providing consistent cash distributions to its unitholders. For the first quarter of 2024, the partnership declared a cash distribution of 81 cents per common unit, reconfirming its 2024 distribution guidance of $3.15-$3.35 per common unit. This stable and predictable income stream is appealing to income-focused investors seeking reliable returns.
The partnership is actively pursuing strategic expansion projects to enhance its production capacity. The SPL Expansion Project, which aims to add approximately 20 million tons per annum of LNG production capacity, demonstrates Cheniere Partners&#39; commitment to growth. The expansion is supported by applications submitted to the Federal Energy Regulatory Commission and the Department of Energy for necessary authorizations.
Cheniere Partners continues to exhibit strong operational performance, evidenced by the export of 114 LNG cargoes totaling 418 TBtu in the first quarter of 2024. This represents a 2% increase in cargo and a 4% increase in volume compared to the same period in 2023. The consistent growth in LNG exports underscores the partnership&#39;s operational efficiency and its ability to meet global LNG demand.
The partnership&#39;s commitment to prudent capital allocation is evident from its decision to prepay $150 million in principal amount of its 5.750% Senior Secured Notes due 2024 with cash on hand. This move not only reduces financial leverage but also demonstrates Cheniere Partners&#39; focus on maintaining a healthy balance sheet and optimizing capital structure.
<h3>Risks</h3>
The Zacks Rank #3 (Hold) partnership has been offering lower dividends to its investors, which may not be attractive to those seeking consistent income from their investments.
<h3>Key Picks</h3>
Investors interested in the&nbsp;energy&nbsp;sector may look at some better-ranked companies mentioned below. The three companies presently carry a Zacks Rank #2 (Buy).
USA Compression Partners, LP&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/usac#NYSE">USAC</a>) is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USA Compression Partners earns its revenues from the overall horsepower use of natural gas transported rather than the price. As such, the partnership is largely insulated from fluctuations in commodity prices.
The Zacks Consensus Estimate for USAC&#39;s 2024 and 2025 earnings per share is pegged at 77 cents and 98 cents, respectively. The company has a Zacks Style Score of B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
Enterprise Products Partners&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/epd#NYSE">EPD</a>) is among the leading midstream energy players in North America. &nbsp;It has an extensive network of pipelines that spreads across more than 50,000 miles.
The Zacks Consensus Estimate for EPD&#39;s 2024 and 2025 EPS is pegged at $2.71 and $2.87, respectively. The company has a Zacks Style Score of A for Value. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 60 days.
ProPetro Holding Corporation&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pump#NYSE">PUMP</a>) is an oilfield services provider operating primarily in the Permian Basin spread over West Texas and New Mexico. ProPetro&#39;s strategic transition to next-generation equipment, including FORCE electric fleets, underscores its market leadership and cutting-edge technology.
The Zacks Consensus Estimate for PUMP&#39;s 2024 and 2025 EPS is pegged at 67 cents and 83 cents, respectively. The company has a Zacks Style Score of A for Value and B for Growth. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2285573/here-s-why-you-should-retain-cheniere-partners-cqp-stock?cid=CS-BENZ-FT-analyst_blog|rank_focused-2285573">To read this article on Zacks.com click here.</a>

Here's Why You Should Retain Cheniere Partners Stock

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.

ProPetro Holding Announces Acquisition Of Wet Sand Solutions Provider Aqua Prop LLC; All Cash Acquisition Is Initially Valued At $35.6M

Investment in stocks after analyzing valuation metrics is considered one of the best practices. When considering valuation metrics, the price-to-earnings ratio has always been the obvious choice. This is because calculations based on earnings are easy and come in handy. However, the price-to-sales ratio is convenient for determining the value of stocks that are incurring losses or in an early development cycle, generating meager or no profit.
<h3>What&#39;s the Price-to-Sales Ratio?</h3>
While a loss-making company with a negative price-to-earnings ratio falls out of investor favor, its price-to-sales can indicate the hidden strength of the business. This underrated ratio is also used to identify a recovery situation or ensure a company&#39;s growth is not overvalued. 
A stock&#39;s price-to-sales ratio reflects how much investors pay for each dollar of revenue generated by a company. 
If the price-to-sales ratio is 1, investors are paying $1 for every $1 of revenues generated by the company. A stock with a price-to-sales below 1 is a good bargain as investors need to pay less than a dollar for a dollar&#39;s worth. &nbsp; 
Thus, a stock with a lower price-to-sales ratio is a more suitable investment than a stock with a high price-to-sales ratio. 
The price-to-sales ratio is often preferred over price-to-earnings, as companies can manipulate their earnings using various accounting measures. However, sales are harder to manipulate and are relatively reliable. 
However, one should keep in mind that a company with a high debt and a low price-to-sales ratio is not an ideal choice. The high debt level will have to be paid off at some point, leading to further share issuance, a rise in market cap, and, ultimately, a higher price-to-sales ratio. 
In any case, the price-to-sales ratio used in isolation cannot do the trick. One should analyze other ratios like Price/Earnings, Price/Book and Debt/Equity before arriving at any investment decision. 
Lakeland Industries (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lake#NASDAQ">LAKE</a>), The ODP Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/odp#NASDAQ">ODP</a>), ProPetro Holding Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pump#NYSE">PUMP</a>), Barrett Business Services (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbsi#NASDAQ">BBSI</a>) and JAKKS Pacific (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jakk#NASDAQ">JAKK</a>) are some companies with a low price-to-sales ratio and the potential to offer higher returns.
<h3>Screening Parameters</h3>
Price to Sales less than the Median Price to Sales for its Industry: The lower the price-to-sales ratio, the better. 
Price to Earnings using F(1) estimate less than the Median Price to Earnings for its Industry: The lower, the better. 
Price to Book (common Equity) less than the Median Price to Book for its Industry: This is another parameter to ensure the value feature of a stock. 
Debt to Equity (Most Recent) less than the Median Debt to Equity for its Industry: A company with less debt should have a stable price-to-sales ratio. 
Current Price greater than or equal to $5: The stocks must be trading at a minimum of $5 or higher. 
Zacks Rank less than or equal to #2 (Buy): Zacks Rank #1 (Strong Buy) or 2 stocks are known to outperform, irrespective of the market environment. 
Value Score less than or equal to B: Our research shows that stocks with a Value Score of A or B, when combined with a Zacks Rank #1 or 2, offer the best opportunities in the value investing space. 
Here are five of the 17 stocks that qualified the screening: 
Lakeland Industries operates as a leading global manufacturer of protective clothing for industry, healthcare and first responders on the federal, state and local levels. LAKE&#39;s focus on high-value products and market diversification, particularly in the fire service and industrial product lines, has been aiding its performance. 
The company has been committed to its strategic acquisition pipeline and is focused on organic growth for the remainder of fiscal 2024. LAKE has a Value Score of A and currently sports a Zacks Rank #1. 
ODP Corp is a provider of business services, products and digital workplace technology solutions to businesses and consumers. The company is on track with Project CORE, its business optimization initiative that facilitates enhancing its position to continue delivering shareholder value. The powerful combination of the company&#39;s business unit structure and approach to operational excellence are likely to drive efficiencies in its business, creating greater flexibility while navigating challenging macroeconomic conditions. 
ODP stands to gain from the momentum in the supply-chain business, driven by its focus on expanding market presence and continued traction with new third-party customers. ODP Corp currently has a Value Score of A and a Zacks Rank #2. 
Midland, TX-based ProPetro is an oilfield service provider operating primarily in the Permian Basin spread over west Texas and New Mexico. The company focuses on growth through a combination of acquisitions and pressure pumping services in the lucrative Permian Basin. Its purchase of Pioneer Natural Resources assets has significantly boosted its fleet size. The deal&#39;s 10-year dedicated service agreement should ensure a stable revenue base in the medium to long term. 
ProPetro, through its leverage to the Permian Basin, is likely to benefit from this multi-year upcycle by providing hydraulic fracturing and other well-completion services to the E&amp;P firms. The company&#39;s strong relationships with high-quality customers provide revenue visibility and business certainty. It is also set to benefit from a debt-light balance sheet, which provides a potential lifeline amid a challenging operating environment. PUMP currently has a Zacks Rank #2 and a Value Score of A. 
Barrett provides business management solutions for small and mid-sized companies in the United States. The company has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. 
The company has been gaining from an expanding client base and the ongoing rollout of BBSI Benefits. Additionally, Barrett has been witnessing positive results in its pricing and cost-management strategies, leading to strong, sustainable earnings growth. BBSI currently has a Value Score of A and a Zacks Rank #2. 
Based in Malibu, CA, JAKKS Pacific is a multi-brand company that has been designing and marketing a broad range of toys and consumer products. The company is benefiting from the FOB business model, strategic acquisitions, a solid international footprint, a focus on innovation, and collaborations with popular brands and movie franchisees. The emphasis on the expansion of retail reach bodes well. 
JAKK has emerged as a diversified consumer products company, buoyed by a string of acquisitions over the past several years. The company realized the importance of online retailing and shifted its focus to boosting online sales. JAKK has a Value Score of A and currently flaunts a Zacks Rank #1. 
You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge. 
The Research Wizard is a great place to begin. It&#39;s easy to use. Everything is in plain language. And it&#39;s very intuitive. Start your trial to the Research Wizard today. And the next time you read an economic report, open up the Research Wizard, plug your finds in and see what gems come out. 
Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. 
Disclosure: Performance information for Zacks&#39; portfolios and strategies are available at: https://www.zacks.com/performance.
<a href="https://www.zacks.com/stock/news/2277325/5-low-price-to-sales-stocks-to-make-a-profitable-portfolio?cid=CS-BENZ-FT-analyst_blog|rw-2277325">To read this article on Zacks.com click here.</a>

BBSI

JAKK

LAKE

5 Low Price-to-Sales Stocks to Make a Profitable Portfolio

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&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;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 <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">NextDecade Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEXT#NASDAQ">NEXT</a>)</h3>
<ul>
<li>On May 20, Abu Dhabi Oil &amp; Gas giant ADNOC announced it secured an equity position and LNG offtake agreement in NextDecade's Rio Grande LNG project. Matt Schatzman, NextDecade's Chairman and Chief Executive Officer, said, "We are excited to begin a multi-decade partnership with ADNOC, a major player in the global LNG market, and we look forward to having them as both a commercial offtaker and an equity partner in Rio Grande LNG. LNG from our facility will allow ADNOC to further increase its presence in the global LNG market, while also supplying global customers with more affordable and less carbon-intensive LNG." The company's stock gained around 28% over the past month and has a <a href="https://www.benzinga.com/quote/NEXT">52-week high of $8.74</a>.</li>
<li>RSI Value: 77.76&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>NEXT Price Action: Shares of NextDecade fell 1% to close at $7.93 on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">Targa Resources Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRGP#NYSE">TRGP</a>)</h3>
<ul>
<li>On May 2, Targa Resources posted better-than-expected first-quarter sales. The company's stock gained around 4% over the past five days and <a href="https://www.benzinga.com/quote/TRGP">has a 52-week high</a> of $119.68.</li>
<li>RSI Value: 71.51</li>
<li>TRGP Price Action: Shares of Targa Resources rose 0.6% to close at $118.20 on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">Teekay Tankers Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TNK#NYSE">TNK</a>)</h3>
<ul>
<li>On May 9, Teekay Tankers posted stronger-than-expected quarterly results. The company's stock gained around 28% over the past month and has a <a href="https://www.benzinga.com/quote/TNK">52-week high</a> of $72.76.</li>
<li>RSI Value: 76.10</li>
<li>TNK Price Action: Shares of Teekay Tankers gained 1.7% to close at $71.83 on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">Nordic American Tankers Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NAT#NYSE">NAT</a>)</h3>
<ul>
<li>On Feb. 29, Nordic American Tankers posted weak quarterly results. The company's stock jumped around 15% over the past month and has a 52-week high is $4.83.</li>
<li>RSI Value: 73.32</li>
<li>NAT Price Action: Shares of Nordic American Tankers rose 0.9% to close at $4.34 on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">ProPetro Holding Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>)</h3>
<ul>
<li>On May 1, ProPetro Holding posted upbeat quarterly earnings. Sam Sledge, Chief Executive Officer, commented, &#8220;We are excited to start off 2024 with strong financial results and positive momentum. Our results reflect a strategy that is working.&#8221; The company's stock jumped around 17% over the past month and <a href="https://www.benzinga.com/quote/PUMP">has a 52-week high</a> of $11.37.</li>
<li>RSI Value: 71.11</li>
<li>PUMP Price Action: Shares of ProPetro Holding rose 2.6% to close at $9.90 on Tuesday.</li>
</ul>
Read More: <a href="https://www.benzinga.com/news/earnings/24/05/38956361/target-nvidia-and-3-stocks-to-watch-heading-into-wednesday">Target, Nvidia And 3 Stocks To Watch Heading Into Wednesday</a>

TRGP

Top 5 Energy Stocks That May Collapse In May

Barclays analyst Derek Podhaizer maintains ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) with a Overweight and raises the price target from $12 to $13.

Barclays Maintains Overweight on ProPetro Holding, Raises Price Target to $13

Benchmark analyst Kurt Hallead reiterates ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) with a Hold.

Reiteration

Benchmark Reiterates Hold on ProPetro Holding

Guidance
The Company now expects to be on the low end of our prior&nbsp;guidance&nbsp;range for full-year 2024 incurred capital expenditures of&nbsp;$200 million&nbsp;to&nbsp;$250 million. Frac fleet effective utilization is expected to be between 14 to 15 fleets during the&nbsp;second quarter&nbsp;2024.
Outlook
Mr. Sledge added, &quot;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 balance sheet and steady free cash flow generation, we continue to make excellent progress on our strategic priorities, and we will continue to evaluate opportunities to further enhance financial returns.&quot;
Mr. Sledge concluded, &quot;We are entering the&nbsp;second quarter&nbsp;with exciting momentum with our industrialization strategy, which is designed for the future of our sector and industry. In light of the market pressures that we and our peers face in a slow-to-no-growth environment, continued focus on our execution is paramount. With our strategic initiatives largely in place, we believe ProPetro is well-positioned to provide the reliable completion services, next-generation technologies and competitive costs that customers seek in the consolidating E&amp;P space. As we further industrialize our business, optimize operations, modernize our fleet and remain opportunistic in value-accretive transactions and capital returns, aligned with our disciplined capital allocation framework, we are confident in ProPetro&#39;s ability to deliver increased shareholder value.&quot;

ProPetro's For 2024 Expects Incurred Capital Expenditures To Be On The Low End Of $200M-$250M; For Q2 Expects Frac Fleet Effective Utilization To Be Between 14 To 15 Fleets

ProPetro Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PUMP#NYSE">PUMP</a>) 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 Q1 2024 GAAP EPS $0.18 Beats $0.07 Estimate, Sales $405.843M Beat $392.121M Estimate

In a report released today, Stephen Gengaro from Stifel Nicolaus maintained a Buy rating on Propetro Holding (PUMP – Research Report), with a price...

Stifel Nicolaus Sticks to Their Buy Rating for Propetro Holding (PUMP)

Barclays analyst Derek Podhaizer maintained a Buy rating on Propetro Holding (PUMP – Research Report) today and set a price target of $13.00. The c...

Barclays Keeps Their Buy Rating on Propetro Holding (PUMP)

ProPetro: Solid Story, Super Cheap, Set For Rebound

Here's the major earnings before the open tomorrow

ProPetro reports Q3 results, gives FY guidance

ProPetro Holding Corp (PUMP) Q3 2024 Earnings Call Transcript

Stifel Nicolaus analyst Stephen Gengaro maintained a Buy rating on Propetro Holding (PUMP – Research Report) today and set a price target of $11.00...

Stifel Nicolaus Sticks to Its Buy Rating for Propetro Holding (PUMP)

ProPetro Delivered A Solid Q3 In A Nervous Oil Service Market; 2025 Looks Bright

Propetro Holding (PUMP) has disclosed a new risk, in the Debt & Financing category. Despite the serious nature of the section titled ITEM 3. Defaul...

Propetro Holding Demonstrates Strong Debt Management with No Defaults on Senior Securities

Era of cheap oil will test resilience of energy giants as profits drop

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Press Releases

ProPetro Announces First Quarter 2024 Earnings Call

ProPetro Increases Share Repurchase Authorization to $200 million

ProPetro Announces Agreement for FORCESM Electric Hydraulic Fracturing Services

ProPetro Reports Financial Results for the First Quarter of 2024

ProPetro Appoints Alex Volkov to Board of Directors

ProPetro Acquires Aqua Prop, an Innovative Wet Sand Solutions Provider

ProPetro Announces Second Quarter 2024 Earnings Call

ProPetro Reports Financial Results for the Second Quarter of 2024

ProPetro Announces Third Quarter 2024 Earnings Call

ProPetro Reports Financial Results for the Third Quarter of 2024

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