Samuel D. Sledge Buys 4,900 Shares of ProPetro Holding Corp. (NYSE:PUMP) Stock

Key Points

• ProPetro Holding Corp. CEO Samuel D. Sledge purchased $24,402.00 in company stock, acquiring 4,900 shares at an average price of $4.98 per share, resulting in a 1.37% increase in his ownership stake.
• The company's stock traded down 3.5% to $4.62, with a twelve-month low of $4.61 and a high of $11.17 while facing negative earnings per share of (-0.07) for the last quarter.
• Wall Street analysts have mixed opinions on ProPetro, with an average rating of "Hold" and a target price of $9.00, as several investment firms recently adjusted their recommendations.

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) CEO Samuel D. Sledge purchased 4,900 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was bought at an average cost of $4.98 per share, with a total value of $24,402.00. Following the completion of the acquisition, the chief executive officer directly owned 362,639 shares of the company's stock, valued at approximately $1,805,942.22. This trade represents a 1.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

ProPetro Price Performance

NYSE PUMP traded down $0.05 during trading hours on Monday, hitting $4.78. 281,202 shares of the company's stock traded hands, compared to its average volume of 1,794,048. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35. The company has a market capitalization of $496.45 million, a PE ratio of -3.25 and a beta of 1.18. The firm's 50-day moving average is $5.97 and its 200-day moving average is $6.55. ProPetro Holding Corp. has a 52-week low of $4.60 and a 52-week high of $11.17.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). The firm had revenue of $326.15 million during the quarter, compared to analysts' expectations of $331.26 million. ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. The company's revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) earnings per share. Equities analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the stock a "buy" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. reduced their price objective on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Finally, Piper Sandler initiated coverage on ProPetro in a research note on Monday, July 14th. They issued a "neutral" rating and a $7.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $9.00.

Institutional Trading of ProPetro

Hedge funds have recently made changes to their positions in the company. Nuveen LLC purchased a new stake in ProPetro during the first quarter worth approximately $11,757,000. Sourcerock Group LLC bought a new position in ProPetro in the 4th quarter valued at about $14,079,000. VR Advisory Services Ltd bought a new position in shares of ProPetro during the 1st quarter valued at about $8,634,000. Pacer Advisors Inc. purchased a new stake in ProPetro during the first quarter valued at about $7,401,000. Finally, Philosophy Capital Management LLC lifted its position in shares of ProPetro by 23.2% in the first quarter. Philosophy Capital Management LLC now owns 2,820,887 shares of the company's stock worth $20,734,000 after purchasing an additional 531,751 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

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.