ProPetro (NYSE:PUMP) Trading Up 5.2%

ProPetro Holding Corp. (NYSE:PUMP) rose 5.2% during trading on Tuesday . The stock traded as high as $8.06 and last traded at $8.06. Approximately 781,269 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 1,502,423 shares. The stock had previously closed at $7.66.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered their price objective on shares of ProPetro from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

ProPetro Trading Up 3.9 %

The company’s 50 day moving average price is $8.07 and its 200 day moving average price is $8.48. The firm has a market cap of $856.50 million, a PE ratio of 11.73 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.04.

ProPetro (NYSE:PUMP) last issued its earnings results 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). The firm had revenue of $357.00 million during the quarter, compared to analyst estimates of $361.85 million. ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The firm’s revenue was down 17.9% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. As a group, analysts forecast that ProPetro Holding Corp. will post 0.24 EPS for the current fiscal year.

Insider Activity at ProPetro

In other ProPetro news, Director Michele Vion sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $8.26, for a total transaction of $41,300.00. Following the sale, the director now owns 34,006 shares of the company’s stock, valued at $280,889.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.

Institutional Trading of ProPetro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in shares of ProPetro in the 2nd quarter valued at $40,000. Chilton Capital Management LLC increased its holdings in shares of ProPetro by 87.1% in the 2nd 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 period. Innealta Capital LLC acquired a new position in shares of ProPetro in the 2nd quarter valued at $76,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of ProPetro in the 2nd quarter valued at $94,000. Finally, Headlands Technologies LLC acquired a new position in shares of ProPetro in the 2nd quarter valued at $99,000. 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.