ProPetro (NYSE:PUMP) Reaches New 12-Month Low After Analyst Downgrade

Shares of ProPetro Holding Corp. (NYSE:PUMP) hit a new 52-week low on Friday after Citigroup lowered their price target on the stock from $8.50 to $8.00. Citigroup currently has a neutral rating on the stock. ProPetro traded as low as $6.74 and last traded at $6.75, with a volume of 279053 shares traded. The stock had previously closed at $6.91.

PUMP has been the topic of a number of other research reports. Barclays decreased their price objective on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Stifel Nicolaus lowered their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Insider Activity at ProPetro

In related news, Director Michele Vion sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the completion of the sale, the director now directly owns 34,006 shares of the company’s stock, valued at approximately $280,889.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ProPetro

Several large investors have recently added to or reduced their stakes in the business. Stanley Laman Group Ltd. raised its stake in ProPetro by 8.1% in the third quarter. Stanley Laman Group Ltd. now owns 446,234 shares of the company’s stock valued at $3,418,000 after buying an additional 33,482 shares in the last quarter. nVerses Capital LLC increased its position in ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after acquiring an additional 4,300 shares during the period. Creative Planning raised its stake in shares of ProPetro by 80.0% during the third quarter. Creative Planning now owns 57,238 shares of the company’s stock worth $438,000 after purchasing an additional 25,445 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of ProPetro during the third quarter worth $1,013,000. Finally, Inspire Investing LLC acquired a new stake in shares of ProPetro in the 3rd quarter worth $411,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Price Performance

The company has a current ratio of 1.20, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $7.83 and a two-hundred day simple moving average of $8.45. The company has a market cap of $684.85 million, a PE ratio of -4.95 and a beta of 2.02.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). ProPetro had a negative net margin of 9.37% and a positive return on equity of 1.31%. The firm had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $361.85 million. During the same period in the previous year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, equities analysts predict that ProPetro Holding Corp. will post 0.17 EPS for the current fiscal year.

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.