ProPetro (NYSE:PUMP) Trading Up 3.4%

ProPetro Holding Corp. (NYSE:PUMPGet Free Report)’s stock price was up 3.4% during mid-day trading on Tuesday . The stock traded as high as $10.02 and last traded at $9.98. Approximately 399,564 shares were traded during trading, a decline of 74% from the average daily volume of 1,562,478 shares. The stock had previously closed at $9.65.

Analysts Set New Price Targets

A number of brokerages have issued reports on PUMP. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a report on Thursday, May 2nd. Barclays raised their target price on ProPetro from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.33.

Check Out Our Latest Analysis on ProPetro

ProPetro Stock Performance

The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average is $8.64 and its two-hundred day moving average is $8.41. The firm has a market cap of $1.02 billion, a P/E ratio of 14.21 and a beta of 2.09.

ProPetro (NYSE:PUMPGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.10. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The company had revenue of $405.84 million for the quarter, compared to analysts’ expectations of $393.11 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. ProPetro’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities analysts predict that ProPetro Holding Corp. will post 0.67 EPS for the current fiscal year.

Insider Activity at ProPetro

In other news, COO Adam Munoz sold 42,573 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $9.28, for a total value of $395,077.44. Following the transaction, the chief operating officer now owns 58,134 shares in the company, valued at approximately $539,483.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by insiders.

Institutional Trading of ProPetro

Hedge funds have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC purchased a new stake in ProPetro during the third quarter valued at about $7,492,000. First Dallas Securities Inc. bought a new stake in ProPetro during the 3rd quarter valued at $4,933,000. Hartree Partners LP bought a new position in shares of ProPetro in the first quarter worth $3,259,000. Dimensional Fund Advisors LP grew its position in shares of ProPetro by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock valued at $61,120,000 after purchasing an additional 378,379 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in ProPetro by 13.3% during the 3rd quarter. American Century Companies Inc. now owns 1,387,406 shares of the company’s stock worth $14,748,000 after purchasing an additional 163,363 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

About ProPetro

(Get Free Report)

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.

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