ProFrac (ACDC)
Provides U.S. hydraulic fracturing, proppant, equipment, and chemistry services for shale producers.
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Sells pressure-pumping services, frac sand, equipment, and Flotek chemistry/data services to North American oil and gas customers. Stimulation Services is the core revenue engine, while owned proppant, manufacturing, and power-related activities reinforce the vertical-integration model.
Operates mobile hydraulic fracturing fleets for U.S. unconventional oil and gas customers, with activity focused on basins such as the Permian, Eagle Ford, Haynesville, Appalachia, the Bakken, and the Rockies. Stimulation Services is the main business line, supported by electric, dual-fuel, idle-management, pump, manifold, and simul-frac offerings.
The portfolio also includes Proppant Production, Manufacturing, Flotek chemistry and data services, and smaller power and gas-conditioning activities under PF Holdings. Owned sand supply and equipment manufacturing make the model more vertically integrated than a standalone pressure-pumping fleet.
Demand depends on E&P capital spending, oil and gas prices, equipment supply, hydraulic-fracturing and environmental rules, water availability, capital access, and Wilks-party voting control.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 15, 2026 | Morgan Stanley | Target | Target: $6 | Target: $5 |
| May 18, 2026 | Piper Sandler | Reiterate | Rating: —Target: $5 | Target: $6 |
| Apr 15, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $4 | Target: $6 |
| Jan 21, 2026 | Morgan Stanley | Target | Target: $3.50 | Target: $4 |
| Dec 15, 2025 | Morgan Stanley | Target | Target: $4.50 | Target: $3.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $18.8M · Total debt $1.22B · Total assets $2.51B · Shareholders' equity $614.0M
- Revenue
- $498.1M
- Operating income
- −$37.9M
- Net income
- −$79.7M
No dividends on record.
| Institutions | ≈ 17.90% | 32.38M shares | |
|---|---|---|---|
| 150 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 53.47% | 96.73M shares | |
| 15 holders · as of Aug 26, 2026 | |||
| Strategic holders | 46.33% | 83.82M shares | |
| 1 holder · as of Aug 26, 2026 | |||
| Adds to | 117.70% | ||
180.92M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 117.70%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
THRC Holdings, LP1Strategic10 percent owner | 46.33% | 83.21M | filed Aug 26, 2026 |
Dan H. Wilks2Insider10 percent owner | 46.06% | 80.93M | filed Aug 26, 2026 |
Farris WilksInsider10 percent owner | 2.86% | 5.17M | filed Jun 26, 2026 |
First Financial Bankshares IncInstitution | 2.13% | 3.86M | as of Jun 30, 2026 |
Matthew WilksInsiderdirector, officer: Chief Executive Officer | 1.94% | 2.29M · 1.22M | filed Aug 12, 2026 |
- THRC Holdings, LP's own ownership statement (13D, Aug 12, 2026) plus the 607.2K net shares acquired since reports fewer shares than the transaction reports; the statement is used.
- Dan H. Wilks's own ownership statement (13D, Mar 20, 2025) plus the 2.40M net shares acquired since reports fewer shares than the transaction reports; the statement is used.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | THRC Holdings, LP | 10 percent owner | +30,820 | $4.81 |
| Aug 24, 2026 | THRC Holdings, LP | 10 percent owner | +363,757 | $4.70 |
| Aug 21, 2026 | THRC Holdings, LP | 10 percent owner | +212,650 | $4.74 |
| Aug 25, 2026 | Dan H. Wilks | 10 percent owner | +30,820 | $4.81 |
| Aug 24, 2026 | Dan H. Wilks | 10 percent owner | +363,757 | $4.70 |
- Halliburton
Scaled pressure-pumping, completion, and chemicals rival
- Liberty Energy
Pure-play North American completions and frac technology rival
- Patterson-UTI Energy
Completion-services scale with gas-powered frac technology
- ProPetro
Permian pressure-pumping peer with electric fleet exposure
- Atlas Energy Solutions
In-basin proppant and logistics peer
- NOV
Frac equipment and stimulation manufacturing peer
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| ProFrac | $4.68 | −0.95% | $853.9M | — | — | 0.5 | −0.8% |
| Halliburton | $32.98 | +0.38% | $27.44B | 17.2 | 13.0 | 1.2 | +3.7% |
| Liberty Energy | $18.52 | +2.66% | $2.94B | 24.3 | 374.9 | 0.7 | +14.0% |
| Patterson-UTI Energy | $11.09 | −0.49% | $4.23B | — | 63.0 | 0.9 | +0.7% |
| ProPetro | $9.93 | −1.05% | $1.23B | — | 58.1 | 1.1 | −6.2% |
| Atlas Energy Solutions | $11.60 | −3.33% | $1.50B | — | — | 1.4 | +1.6% |
| NOV | $20.33 | +0.72% | $7.19B | 77.6 | 19.1 | 0.8 | −2.5% |
| Median | 24.3 | 58.1 | 1.0 | +1.1% |