ProPetro (NYSE:PUMP) Trading 4.9% Higher

ProPetro Holding Corp. (NYSE:PUMPGet Free Report)’s stock price traded up 4.9% during trading on Wednesday . The company traded as high as $8.39 and last traded at $8.36. 415,503 shares traded hands during trading, a decline of 72% from the average session volume of 1,491,588 shares. The stock had previously closed at $7.97.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PUMP shares. TheStreet lowered shares of ProPetro from a “b-” rating to a “c+” rating in a research report on Monday, January 8th. Benchmark lowered shares of ProPetro from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th.

Read Our Latest Research Report on PUMP

ProPetro Stock Up 7.4 %

The firm has a market cap of $920.77 million, a P/E ratio of 11.31 and a beta of 2.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.08 and a current ratio of 1.15. The firm’s fifty day moving average is $7.80 and its 200 day moving average is $8.74.

ProPetro (NYSE:PUMPGet Free Report) last posted its 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 return on equity of 10.26% and a net margin of 5.25%. The business had revenue of $347.80 million for the quarter, compared to the consensus estimate of $351.50 million. During the same period in the previous year, the firm earned $0.31 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. As a group, equities research analysts anticipate that ProPetro Holding Corp. will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProPetro

Institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC lifted its position in shares of ProPetro by 7.4% during the 3rd quarter. Hsbc Holdings PLC now owns 31,415 shares of the company’s stock valued at $334,000 after acquiring an additional 2,172 shares during the period. Graham Capital Management L.P. acquired a new position in ProPetro during the third quarter worth $314,000. Trexquant Investment LP raised its holdings in ProPetro by 174.3% during the third quarter. Trexquant Investment LP now owns 44,858 shares of the company’s stock worth $477,000 after buying an additional 28,507 shares during the last quarter. Natixis Advisors L.P. raised its holdings in ProPetro by 28.2% during the third quarter. Natixis Advisors L.P. now owns 51,902 shares of the company’s stock worth $552,000 after buying an additional 11,420 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of ProPetro by 13.3% in the third quarter. American Century Companies Inc. now owns 1,387,406 shares of the company’s stock valued at $14,748,000 after purchasing an additional 163,363 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

ProPetro Company Profile

(Get Free Report)

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.

Further Reading

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