ProPetro (NYSE:PUMP) Shares Down 5.9% – Should You Sell?

ProPetro Holding Corp. (NYSE:PUMP)’s stock price fell 5.9% during trading on Friday . The stock traded as low as $7.75 and last traded at $7.75. 158,189 shares traded 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.

Analysts Set New Price Targets

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

ProPetro Trading Down 3.9 %

The firm has a market capitalization of $815.21 million, a P/E ratio of -5.83 and a beta of 2.07. The business’s 50 day moving average is $7.95 and its two-hundred day moving average is $8.27. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05.

Insider Activity

In related news, CFO David Scott Schorlemer bought 4,500 shares of ProPetro stock in a transaction dated 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 completion of the acquisition, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On ProPetro

Several hedge funds have recently made changes to their positions in PUMP. GAMMA Investing LLC raised its holdings 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 purchasing an additional 1,473 shares in the last quarter. Quarry LP bought a new position in shares of ProPetro in the 2nd quarter valued at approximately $40,000. nVerses Capital LLC lifted its holdings in ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after purchasing an additional 4,300 shares during the last quarter. Chilton Capital Management LLC boosted its position 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 purchasing an additional 4,000 shares during the period. Finally, CWM LLC boosted its holdings in shares of ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after buying an additional 1,267 shares during the period. Hedge funds and other institutional investors 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.