ProPetro (NYSE:PUMP) Trading Down 5.9% – Time to Sell?

ProPetro Holding Corp. (NYSE:PUMP) shares traded down 5.9% during trading on Friday . The company traded as low as $7.75 and last traded at $7.75. 158,189 shares changed hands during trading, a decline of 89% from the average session volume of 1,421,194 shares. The stock had previously closed at $8.24.

Analyst Upgrades and Downgrades

PUMP has been the subject of several analyst reports. Barclays cut their price target on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a report on Friday. Citigroup cut their price target on ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Stifel Nicolaus decreased their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, ProPetro has a consensus rating of “Hold” and an average target price of $10.25.

ProPetro Price Performance

The company’s 50 day simple moving average is $7.96 and its 200 day simple moving average is $8.25. The stock has a market cap of $814.18 million, a P/E ratio of -5.95 and a beta of 2.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14.

Insider Buying and Selling

In other ProPetro news, CFO David Scott Schorlemer bought 4,500 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was acquired at an average cost of $6.86 per share, with a total value of $30,870.00. Following the purchase, the chief financial officer now owns 112,992 shares in the company, valued at $775,125.12. This trade represents a 4.15 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in shares of ProPetro by 95.4% in the third quarter. Pacer Advisors Inc. now owns 7,152,687 shares of the company’s stock valued at $54,790,000 after purchasing an additional 3,491,723 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of ProPetro during the 2nd quarter valued at approximately $746,000. Exchange Traded Concepts LLC acquired a new position in shares of ProPetro during the third quarter worth $1,013,000. Creative Planning boosted 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 valued at $438,000 after purchasing an additional 25,445 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in ProPetro in the 2nd quarter valued at approximately $764,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

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.