ProPetro (NYSE:PUMP) Director Sells $73,586.24 in Stock

ProPetro Holding Corp. (NYSE:PUMP) Director Michele Vion sold 6,916 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $10.64, for a total transaction of $73,586.24. Following the transaction, the director directly owned 45,029 shares of the company’s stock, valued at $479,108.56. This trade represents a 13.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ProPetro Price Performance

ProPetro stock traded up $0.56 during midday trading on Monday, reaching $10.94. 6,037,405 shares of the stock traded hands, compared to its average volume of 2,222,248. The stock’s fifty day moving average is $5.61 and its 200-day moving average is $5.65. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $11.66. The stock has a market cap of $1.14 billion, a P/E ratio of -64.34 and a beta of 1.00. The company has a quick ratio of 1.35, a current ratio of 1.26 and a debt-to-equity ratio of 0.11.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.09. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. The business had revenue of $293.92 million during the quarter, compared to analyst estimates of $266.25 million. During the same quarter last year, the business earned ($1.32) earnings per share. ProPetro’s quarterly revenue was down 18.6% compared to the same quarter last year. As a group, equities research analysts anticipate that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Hedge Funds Weigh In On ProPetro

Large investors have recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of ProPetro during the 1st quarter worth approximately $25,000. Headlands Technologies LLC bought a new position in shares of ProPetro during the 1st quarter worth approximately $32,000. State of Wyoming bought a new position in shares of ProPetro during the 1st quarter worth approximately $48,000. Raymond James Financial Inc. acquired a new stake in shares of ProPetro in the second quarter worth $60,000. Finally, PharVision Advisers LLC acquired a new stake in ProPetro during the second quarter valued at $60,000. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PUMP shares. Weiss Ratings reiterated a “sell (d)” rating on shares of ProPetro in a report on Wednesday, October 8th. Piper Sandler raised ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 target price for the company in a research report on Monday. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the company a “buy” rating in a research report on Wednesday, July 16th. Barclays lifted their price objective on ProPetro from $5.00 to $10.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Zacks Research upgraded ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $11.00.

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.