ProPetro (NYSE:PUMP) Trading Down 9.2%

ProPetro Holding Corp. (NYSE:PUMPGet Rating)’s share price traded down 9.2% during mid-day trading on Friday . The company traded as low as $7.31 and last traded at $7.38. 7,306 shares were traded during mid-day trading, a decline of 99% from the average session volume of 916,079 shares. The stock had previously closed at $8.13.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore ISI cut their price objective on shares of ProPetro to $13.00 in a research note on Tuesday, August 9th. Piper Sandler increased their price target on shares of ProPetro from $15.50 to $16.75 and gave the stock a “neutral” rating in a research note on Wednesday, June 1st. JPMorgan Chase & Co. lowered shares of ProPetro from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $16.00 to $14.00 in a research note on Thursday, May 26th. Finally, Citigroup increased their price objective on shares of ProPetro to $19.00 in a research report on Friday, June 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, ProPetro presently has an average rating of “Moderate Buy” and a consensus price target of $16.13.

ProPetro Stock Down 8.6 %

The business’s fifty day moving average is $9.08 and its two-hundred day moving average is $11.55. The stock has a market capitalization of $775.25 million, a PE ratio of -16.02 and a beta of 2.45.

ProPetro (NYSE:PUMPGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The company had revenue of $315.08 million during the quarter, compared to analyst estimates of $310.57 million. ProPetro had a negative net margin of 4.24% and a positive return on equity of 2.05%. During the same period in the previous year, the firm earned ($0.08) earnings per share. Sell-side analysts expect that ProPetro Holding Corp. will post 1.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Spencer D. Armour III sold 32,931 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $8.99, for a total transaction of $296,049.69. Following the transaction, the director now owns 67,899 shares in the company, valued at $610,412.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProPetro

Several hedge funds have recently bought and sold shares of PUMP. Vanguard Group Inc. raised its stake in ProPetro by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 9,682,636 shares of the company’s stock valued at $134,880,000 after purchasing an additional 83,813 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of ProPetro by 16.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,002,856 shares of the company’s stock valued at $69,691,000 after buying an additional 713,904 shares during the period. FMR LLC lifted its position in shares of ProPetro by 69.1% during the 2nd quarter. FMR LLC now owns 4,206,247 shares of the company’s stock worth $42,062,000 after purchasing an additional 1,718,775 shares during the last quarter. State Street Corp lifted its stake in ProPetro by 0.4% during the second quarter. State Street Corp now owns 3,919,665 shares of the company’s stock worth $39,197,000 after purchasing an additional 16,105 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in ProPetro by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,292,484 shares of the company’s stock valued at $18,004,000 after acquiring an additional 61,060 shares in the last quarter. Hedge funds and other institutional investors own 89.83% of the company’s stock.

ProPetro Company Profile

(Get Rating)

ProPetro Holding Corp., an oilfield services company, provides hydraulic fracturing and other related services. The company operates through Pressure Pumping and All Other segments. It offers cementing, acidizing, and coiled tubing services. The company serves oil and gas companies engaged in the exploration and production of North American oil and natural gas resources.

Further Reading

Receive News & Ratings for ProPetro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProPetro and related companies with MarketBeat.com's FREE daily email newsletter.