ProPetro (NYSE:PUMP) Trading 3% Higher

ProPetro Holding Corp. (NYSE:PUMP) shares traded up 3% on Friday . The stock traded as high as $10.36 and last traded at $10.28. 4,921 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 786,396 shares. The stock had previously closed at $9.98.

Separately, Atb Cap Markets raised ProPetro from a “sector perform” rating to an “outperform” rating in a research report on Saturday, October 9th.

The business has a 50 day simple moving average of $8.73 and a 200 day simple moving average of $8.55.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Tuesday, November 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). ProPetro had a negative net margin of 9.97% and a negative return on equity of 5.49%. The firm had revenue of $250.10 million for the quarter, compared to analyst estimates of $227.39 million. During the same period last year, the company earned ($0.29) EPS. On average, equities research analysts anticipate that ProPetro Holding Corp. will post -0.34 earnings per share for the current fiscal year.

In other ProPetro news, Director Spencer D. Armour III sold 32,931 shares of the stock in a transaction dated Tuesday, November 2nd. The stock was sold at an average price of $9.44, for a total value of $310,868.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley lifted its position in shares of ProPetro by 250.1% in the second quarter. Morgan Stanley now owns 681,595 shares of the company’s stock valued at $6,244,000 after buying an additional 486,926 shares during the last quarter. Connacht Asset Management LP lifted its holdings in ProPetro by 5.0% during the 2nd quarter. Connacht Asset Management LP now owns 116,132 shares of the company’s stock worth $1,064,000 after purchasing an additional 5,559 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in ProPetro by 96.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 80,665 shares of the company’s stock worth $739,000 after purchasing an additional 39,552 shares during the last quarter. Amalgamated Bank acquired a new stake in ProPetro during the 2nd quarter worth approximately $374,000. Finally, Metropolitan Life Insurance Co NY lifted its holdings in ProPetro by 140,135.3% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 23,840 shares of the company’s stock worth $218,000 after purchasing an additional 23,823 shares during the last quarter. 81.02% of the stock is owned by institutional investors.

About ProPetro (NYSE:PUMP)

ProPetro Holding Corp. is an oilfield services company that engages in the provision of hydraulic fracturing and other complementary services. It operates through the following segments: Hydraulic Fracturing, Cementing, Coil Tubing, Flowback, and Drilling. The Hydraulic Fracturing segment intends to optimize hydrocarbon flow paths during the completion phase of horizontal shale wellbores.

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