ProPetro (NYSE:PUMP) Stock Price Up 3.4%

ProPetro Holding Corp. (NYSE:PUMP)’s share 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.

Analyst Upgrades and Downgrades

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

ProPetro Stock Up 2.5 %

The business’s fifty day moving average price is $8.55 and its two-hundred day moving average price is $8.40. The firm has a market capitalization of $1.06 billion, a P/E ratio of 14.40 and a beta of 2.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.12 and a current ratio of 1.18.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, May 1st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.10. The company had revenue of $405.84 million during the quarter, compared to analysts’ expectations of $393.11 million. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. ProPetro’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period last year, the business earned $0.40 EPS. Equities analysts expect that ProPetro Holding Corp. will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Adam Munoz sold 42,573 shares of ProPetro stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total value of $395,077.44. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by company insiders.

Institutional Trading of ProPetro

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in ProPetro by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock valued at $61,120,000 after acquiring an additional 378,379 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in ProPetro by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,686,215 shares of the company’s stock valued at $14,130,000 after acquiring an additional 65,517 shares during the period. American Century Companies Inc. lifted its stake in shares of ProPetro by 13.3% in the 3rd quarter. American Century Companies Inc. now owns 1,387,406 shares of the company’s stock valued at $14,748,000 after purchasing an additional 163,363 shares during the period. AQR Capital Management LLC lifted its stake in shares of ProPetro by 9.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,031,150 shares of the company’s stock valued at $10,961,000 after purchasing an additional 92,032 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of ProPetro by 10.7% in the 3rd quarter. Invesco Ltd. now owns 1,012,363 shares of the company’s stock valued at $10,761,000 after purchasing an additional 97,871 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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.