ProPetro (NYSE:PUMP) Trading 2.4% Higher

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) shot up 2.4% during trading on Wednesday . The company traded as high as $8.68 and last traded at $8.59. 406,412 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,489,834 shares. The stock had previously closed at $8.39.

Analyst Ratings Changes

PUMP has been the topic of several recent analyst reports. TheStreet downgraded shares of ProPetro from a "b-" rating to a "c+" rating in a research note on Monday, January 8th. Benchmark downgraded shares of ProPetro from a "buy" rating to a "hold" rating in a research note on Tuesday, January 16th.

ProPetro Price Performance

The firm has a fifty day moving average of $7.81 and a two-hundred day moving average of $8.67. The stock has a market capitalization of $931.56 million, a P/E ratio of 11.70 and a beta of 2.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.15 and a quick ratio of 1.08.

ProPetro (NYSE:PUMP - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.24). ProPetro had a net margin of 5.25% and a return on equity of 10.26%. The business had revenue of $347.80 million for the quarter, compared to analysts' expectations of $351.50 million. During the same period last year, the business posted $0.31 EPS. The company's revenue for the quarter was down .3% on a year-over-year basis. On average, analysts predict that ProPetro Holding Corp. will post 0.48 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its holdings in ProPetro by 7.4% in the third quarter. Hsbc Holdings PLC now owns 31,415 shares of the company's stock worth $334,000 after purchasing an additional 2,172 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in ProPetro in the third quarter valued at approximately $314,000. Trexquant Investment LP grew its holdings in ProPetro by 174.3% in the third quarter. Trexquant Investment LP now owns 44,858 shares of the company's stock worth $477,000 after purchasing an additional 28,507 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of 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 purchasing an additional 11,420 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of ProPetro by 13.3% during the 3rd 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 currently 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.