ProPetro (NYSE:PUMP) Trading 4.4% Higher – What’s Next?

ProPetro Holding Corp. (NYSE:PUMP) shot up 4.4% during trading on Monday . The company traded as high as $9.47 and last traded at $9.44. 382,027 shares traded hands during trading, a decline of 75% from the average session volume of 1,506,832 shares. The stock had previously closed at $9.04.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a research report on Friday, December 6th. Barclays dropped their price objective on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Citigroup decreased their target price on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, Stifel Nicolaus dropped their price target on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.25.

ProPetro Trading Up 3.3 %

The company’s 50 day moving average price is $8.23 and its two-hundred day moving average price is $8.21. The firm has a market cap of $961.37 million, a PE ratio of -7.02 and a beta of 2.07. The company has a quick ratio of 1.14, a current ratio of 1.20 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling at ProPetro

In related news, CFO David Scott Schorlemer purchased 4,500 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were purchased at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the acquisition, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. This trade represents a 4.15 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On ProPetro

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of ProPetro by 84.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after buying an additional 1,473 shares during the period. Quarry LP purchased a new position in ProPetro in the second quarter worth $40,000. nVerses Capital LLC increased its position in shares of ProPetro by 226.3% during the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after purchasing an additional 4,300 shares in the last quarter. CWM LLC lifted its holdings in shares of ProPetro by 17.2% during the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after purchasing an additional 1,267 shares during the last quarter. Finally, Chilton Capital Management LLC boosted its position in shares of ProPetro by 87.1% in the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after purchasing an additional 4,000 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

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.