ProPetro (NYSE:PUMP) Sees Strong Trading Volume – Here’s Why

ProPetro Holding Corp. (NYSE:PUMP) shares saw unusually-strong trading volume on Tuesday . Approximately 4,093,742 shares traded hands during trading, an increase of 99% from the previous session’s volume of 2,061,146 shares.The stock last traded at $10.5450 and had previously closed at $11.12.

Wall Street Analyst Weigh In

PUMP has been the subject of several research reports. Zacks Research upgraded shares of ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price objective for the company in a research report on Wednesday, December 10th. Piper Sandler boosted their target price on ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Finally, Barclays reiterated a “neutral” rating on shares of ProPetro in a report on Wednesday, December 17th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ProPetro currently has an average rating of “Hold” and an average target price of $12.67.

ProPetro Stock Up 7.4%

The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -67.32 and a beta of 0.75. The business has a 50-day simple moving average of $9.99 and a two-hundred day simple moving average of $7.52.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The business had revenue of $293.92 million for the quarter, compared to the consensus estimate of $266.25 million. During the same period last year, the business earned ($1.32) EPS. The firm’s revenue was down 18.6% compared to the same quarter last year. As a group, equities analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director G Larry Lawrence sold 27,000 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $10.84, for a total value of $292,680.00. Following the completion of the sale, the director owned 35,831 shares in the company, valued at approximately $388,408.04. This trade represents a 42.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michele Vion sold 6,916 shares of ProPetro stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $10.64, for a total value of $73,586.24. Following the sale, the director directly owned 45,029 shares in the company, valued at $479,108.56. The trade was a 13.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC grew its holdings in ProPetro by 127.3% during the 2nd quarter. Squarepoint Ops LLC now owns 102,166 shares of the company’s stock worth $610,000 after acquiring an additional 57,226 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of ProPetro by 83.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,405 shares of the company’s stock worth $122,000 after purchasing an additional 9,297 shares during the last quarter. American Century Companies Inc. boosted its position in shares of ProPetro by 3.1% in the 2nd quarter. American Century Companies Inc. now owns 3,556,150 shares of the company’s stock worth $21,230,000 after purchasing an additional 107,090 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of ProPetro by 256.5% during the second quarter. Prudential Financial Inc. now owns 377,904 shares of the company’s stock worth $2,256,000 after purchasing an additional 271,906 shares during the period. Finally, Stanley Laman Group Ltd. increased its holdings in ProPetro by 25.3% in the second quarter. Stanley Laman Group Ltd. now owns 507,261 shares of the company’s stock valued at $3,028,000 after purchasing an additional 102,491 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Company Profile

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.