ProPetro Sees Unusually High Options Volume (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) was the target of some unusual options trading activity on Wednesday. Traders purchased 6,045 put options on the stock. This is an increase of approximately 607% compared to the typical volume of 855 put options.

Analyst Ratings Changes

PUMP has been the subject of a number of analyst reports. JPMorgan Chase & Co. upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $7.00 to $13.00 in a report on Wednesday, December 10th. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Piper Sandler increased their price target on ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, Barclays lifted their price objective on shares of ProPetro from $11.00 to $12.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.83.

Hedge Funds Weigh In On ProPetro

Large investors have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new position in shares of ProPetro in the fourth quarter worth approximately $56,000. Raymond James Financial Inc. purchased a new position in ProPetro in the 2nd quarter worth approximately $60,000. PharVision Advisers LLC bought a new position in shares of ProPetro in the 2nd quarter worth $60,000. Tower Research Capital LLC TRC raised its position in shares of ProPetro by 70.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after buying an additional 4,461 shares in the last quarter. Finally, Trek Financial LLC bought a new stake in shares of ProPetro during the 3rd quarter worth $57,000. 84.70% of the stock is owned by institutional investors.

ProPetro Stock Performance

NYSE:PUMP traded up $0.15 during trading hours on Wednesday, reaching $12.35. The stock had a trading volume of 939,301 shares, compared to its average volume of 3,030,613. The stock has a market cap of $1.51 billion, a P/E ratio of 1,235.90 and a beta of 0.70. The stock has a 50 day simple moving average of $11.06 and a 200 day simple moving average of $8.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.29. ProPetro has a 12-month low of $4.51 and a 12-month high of $13.25.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.14. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The company had revenue of $289.68 million during the quarter, compared to the consensus estimate of $279.90 million. During the same quarter in the prior year, the company earned ($0.17) EPS. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts forecast that ProPetro will post 0.25 EPS for the current fiscal year.

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.