ProPetro (NYSE:PUMP) CFO Caleb Lyle Weatherl Buys 2,000 Shares of Company Stock

ProPetro Holding Corp. (NYSE:PUMP) CFO Caleb Lyle Weatherl acquired 2,000 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were bought at an average cost of $7.78 per share, with a total value of $15,560.00. Following the completion of the acquisition, the chief financial officer directly owned 29,338 shares in the company, valued at $228,249.64. The trade was a 7.32% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

ProPetro Stock Performance

PUMP opened at $6.97 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 4.00. ProPetro Holding Corp. has a 52 week low of $6.93 and a 52 week high of $18.50. The business’s fifty day simple moving average is $9.50 and its 200 day simple moving average is $12.51.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. The firm had revenue of $355.38 million during the quarter, compared to analysts’ expectations of $320.44 million. ProPetro had a return on equity of 0.21% and a net margin of 0.16%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) EPS. On average, analysts predict that ProPetro Holding Corp. will post -0.09 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Readystate Asset Management LP increased its stake in ProPetro by 285.6% in the 2nd quarter. Readystate Asset Management LP now owns 405,748 shares of the company’s stock worth $5,818,000 after buying an additional 300,535 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in ProPetro in the 1st quarter valued at $2,045,000. Assenagon Asset Management S.A. bought a new position in ProPetro during the second quarter valued at approximately $18,700,000. Fund 1 Investments LLC grew its holdings in ProPetro by 2,653.6% during the 2nd quarter. Fund 1 Investments LLC now owns 1,793,882 shares of the company’s stock valued at $25,724,000 after buying an additional 1,728,736 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in ProPetro in the 2nd quarter worth approximately $12,315,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of ProPetro from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, October 14th. Scotiabank boosted their price target on shares of ProPetro from $12.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Friday. Weiss Ratings lowered shares of ProPetro from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 29th. Citigroup dropped their target price on ProPetro from $16.00 to $14.50 and set a “buy” rating for the company in a report on Friday, October 2nd. Finally, Piper Sandler decreased their price target on ProPetro from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

About ProPetro

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to oil and natural gas exploration and production companies. Its primary offerings include hydraulic fracturing, well stimulation and wireline services used to prepare newly drilled wells for production and support ongoing well operations.

The company operates primarily in the Permian Basin, serving customers in the West Texas and southeastern New Mexico region. ProPetro’s services are focused on unconventional shale and tight-rock wells, where specialized pumping, pressure-control and downhole technologies are used to improve hydrocarbon recovery.

ProPetro was founded in 2007 and is headquartered in Midland, Texas.