ProPetro (NYSE:PUMP) Shares Down 5% – What’s Next?

ProPetro Holding Corp. (NYSE:PUMP)’s share price dropped 5% during trading on Tuesday . The company traded as low as $7.84 and last traded at $7.86. Approximately 64,399 shares traded hands during trading, a decline of 96% from the average daily volume of 1,466,292 shares. The stock had previously closed at $8.27.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays decreased their price objective on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus cut their price target on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, October 11th.

ProPetro Stock Performance

The company has a current ratio of 1.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $7.98 and its 200 day moving average price is $8.51. The company has a market capitalization of $879.09 million, a price-to-earnings ratio of 12.19 and a beta of 2.02.

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

Insiders Place Their Bets

In other ProPetro news, Director Michele Vion sold 5,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $8.26, for a total value of $41,300.00. Following the transaction, the director now directly owns 34,006 shares of the company’s stock, valued at $280,889.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in shares of ProPetro by 84.3% in the third 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. Quarry LP bought a new stake in shares of ProPetro during the 2nd quarter worth approximately $40,000. nVerses Capital LLC boosted its position in shares of ProPetro by 226.3% during the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after acquiring an additional 4,300 shares in the last quarter. CWM LLC boosted its position 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 acquiring an additional 1,267 shares in the last quarter. Finally, Chilton Capital Management LLC increased its stake in ProPetro by 87.1% in the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after acquiring an additional 4,000 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

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.