Insider Selling: ProPetro Holding Corp. (NYSE:PUMP) COO Sells 42,573 Shares of Stock

ProPetro Holding Corp. (NYSE:PUMP) COO Adam Munoz sold 42,573 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total transaction of $395,077.44. Following the transaction, the chief operating officer now directly owns 58,134 shares in the company, valued at approximately $539,483.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

ProPetro Stock Performance

Shares of NYSE:PUMP opened at $9.47 on Thursday. The company has a 50-day moving average price of $8.19 and a 200-day moving average price of $8.47. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 14.13 and a beta of 2.09. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.05. ProPetro Holding Corp. has a 12 month low of $6.47 and a 12 month high of $11.37.

ProPetro (NYSE:PUMP) last posted 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. The firm had revenue of $405.84 million for the quarter, compared to analysts’ expectations of $393.11 million. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. As a group, equities analysts anticipate that ProPetro Holding Corp. will post 0.56 EPS for the current year.

Institutional Investors Weigh In On ProPetro

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its holdings in ProPetro by 36.9% in the first quarter. Russell Investments Group Ltd. now owns 384,529 shares of the company’s stock worth $3,107,000 after buying an additional 103,644 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of ProPetro in the 1st quarter valued at approximately $453,000. Tectonic Advisors LLC boosted its position in shares of ProPetro by 7.3% during the first quarter. Tectonic Advisors LLC now owns 127,432 shares of the company’s stock valued at $1,030,000 after purchasing an additional 8,724 shares in the last quarter. Empowered Funds LLC raised its holdings in ProPetro by 8.2% in the first quarter. Empowered Funds LLC now owns 464,987 shares of the company’s stock worth $3,757,000 after purchasing an additional 35,165 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in ProPetro during the first quarter valued at $551,000. Institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

ProPetro Company Profile

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.