ProPetro (NYSE:PUMP) Stock Price Up 4.4% – Here’s What Happened

by · The Markets Daily

ProPetro Holding Corp. (NYSE:PUMP – Get Free Report) shares traded up 4.4% on Monday . The stock traded as high as $9.47 and last traded at $9.44. 382,027 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,506,832 shares. The stock had previously closed at $9.04.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PUMP shares. Stifel Nicolaus cut their price objective on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Citigroup reduced their target price on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Barclays lowered their price target on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective for the company in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, ProPetro presently has a consensus rating of “Hold” and an average target price of $10.25.

Read Our Latest Analysis on ProPetro

ProPetro Stock Performance

The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05. The company has a market cap of $960.34 million, a PE ratio of -7.01 and a beta of 2.07. The firm’s 50-day simple moving average is $8.29 and its two-hundred day simple moving average is $8.23.

Insiders Place Their Bets

In related news, CFO David Scott Schorlemer acquired 4,500 shares of ProPetro stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the purchase, the chief financial officer now owns 112,992 shares of the company’s stock, valued at approximately $775,125.12. This represents a 4.15 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. CWM LLC raised its stake in ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after purchasing an additional 1,267 shares during the last quarter. GAMMA Investing LLC raised its position in shares of ProPetro by 84.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after buying an additional 1,473 shares during the period. Victory Capital Management Inc. grew its position in ProPetro by 1.8% in the second quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock worth $970,000 after acquiring an additional 1,990 shares during the period. The Manufacturers Life Insurance Company grew its position in ProPetro by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 37,392 shares of the company’s stock worth $324,000 after acquiring an additional 2,257 shares during the period. Finally, Federated Hermes Inc. raised its position in ProPetro by 8.9% in the second quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock valued at $259,000 after purchasing an additional 2,446 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Company Profile

(Get Free Report)

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.

Recommended Stories