ProPetro (NYSE:PUMP) Trading Up 2.9%

ProPetro Holding Corp. (NYSE:PUMP)’s stock price shot up 2.9% during trading on Thursday . The company traded as high as $8.48 and last traded at $8.43. 106,887 shares traded hands during trading, a decline of 93% from the average session volume of 1,496,824 shares. The stock had previously closed at $8.19.

Analysts Set New Price Targets

A number of research firms recently commented on PUMP. Benchmark lowered shares of ProPetro from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. TheStreet downgraded shares of ProPetro from a “b-” rating to a “c+” rating in a research note on Monday, January 8th.

ProPetro Price Performance

The stock has a market capitalization of $927.25 million, a price-to-earnings ratio of 11.64 and a beta of 2.13. The company has a quick ratio of 1.08, a current ratio of 1.15 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $7.85 and its 200-day simple moving average is $8.60.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, February 21st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.24). ProPetro had a net margin of 5.25% and a return on equity of 10.26%. The company had revenue of $347.80 million during the quarter, compared to analyst estimates of $351.50 million. During the same quarter in the previous year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts forecast that ProPetro Holding Corp. will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PUMP. BlackRock Inc. raised its holdings in ProPetro by 8.8% in the 3rd quarter. BlackRock Inc. now owns 17,847,360 shares of the company’s stock valued at $143,672,000 after buying an additional 1,445,598 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in ProPetro by 25.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,750,490 shares of the company’s stock worth $48,536,000 after purchasing an additional 1,381,397 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in ProPetro by 256.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,164,755 shares of the company’s stock worth $9,761,000 after purchasing an additional 838,331 shares during the last quarter. Kennedy Capital Management LLC bought a new position in ProPetro during the 3rd quarter worth approximately $7,492,000. Finally, Invesco Ltd. raised its holdings in ProPetro by 94.7% during the 1st quarter. Invesco Ltd. now owns 1,209,464 shares of the company’s stock worth $16,847,000 after purchasing an additional 588,158 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

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.