ProPetro (NYSE:PUMP) Trading Up 5.2%

ProPetro Holding Corp. (NYSE:PUMP)’s stock price was up 5.2% on Tuesday . The company traded as high as $8.06 and last traded at $8.06. Approximately 781,269 shares were traded during trading, a decline of 48% from the average daily volume of 1,502,423 shares. The stock had previously closed at $7.66.

Analyst Ratings Changes

Separately, Stifel Nicolaus reduced their price objective on shares of ProPetro from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ProPetro presently has an average rating of “Moderate Buy” and an average price target of $12.00.

ProPetro Price Performance

The stock’s 50-day simple moving average is $8.07 and its two-hundred day simple moving average is $8.48. The company has a market capitalization of $856.50 million, a price-to-earnings ratio of 11.73 and a beta of 2.02. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.05.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The business had revenue of $357.00 million during the quarter, compared to analyst estimates of $361.85 million. ProPetro had a net margin of 2.21% and a return on equity of 3.39%. ProPetro’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Equities research analysts predict that ProPetro Holding Corp. will post 0.24 earnings per share for the current year.

Insider Activity

In other news, Director Michele Vion sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $8.26, for a total value of $41,300.00. Following the completion of the sale, the director now directly owns 34,006 shares in the company, valued at $280,889.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On ProPetro

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new position in ProPetro during the second quarter worth about $40,000. Chilton Capital Management LLC boosted its stake in ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after buying an additional 4,000 shares during the period. Innealta Capital LLC purchased a new position in ProPetro during the second quarter worth about $76,000. Vanguard Personalized Indexing Management LLC purchased a new position in ProPetro during the second quarter worth about $94,000. Finally, Headlands Technologies LLC purchased a new position in ProPetro during the second quarter worth about $99,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

About ProPetro

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.