ProPetro (NYSE:PUMP) Shares Down 4.4% - Time to Sell?

Key Points

• ProPetro Holding Corp. (NYSE:PUMP) shares fell by 4.4% to $4.85, with trading volume down 60% from the average.
• The company reported a quarterly loss of ($0.07) earnings per share, missing estimates by $0.10, and a revenue decline of 9.2% year-over-year.
• Currently, ProPetro has a consensus rating of "Hold" from analysts, with a price target averaging $9.00.

Shares of ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) were down 4.4% on Monday . The company traded as low as $4.88 and last traded at $4.85. Approximately 708,797 shares traded hands during mid-day trading, a decline of 60% from the average daily volume of 1,786,583 shares. The stock had previously closed at $5.07.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PUMP shares. Stifel Nicolaus set a $10.00 price objective on ProPetro and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Piper Sandler started coverage on ProPetro in a research report on Monday, July 14th. They issued a "neutral" rating and a $7.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, ProPetro presently has a consensus rating of "Hold" and a consensus price target of $9.00.

ProPetro Stock Performance

The stock has a market cap of $510.20 million, a P/E ratio of -3.34 and a beta of 1.18. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $6.04 and a two-hundred day moving average price of $6.76.

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

Institutional Investors Weigh In On ProPetro

Several institutional investors have recently modified their holdings of the stock. MetLife Investment Management LLC lifted its stake in shares of ProPetro by 2.5% in the 4th quarter. MetLife Investment Management LLC now owns 52,933 shares of the company's stock valued at $494,000 after purchasing an additional 1,270 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of ProPetro by 3.5% in the first quarter. Hsbc Holdings PLC now owns 49,858 shares of the company's stock worth $371,000 after buying an additional 1,675 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of ProPetro by 1.2% in the second quarter. Nisa Investment Advisors LLC now owns 163,394 shares of the company's stock worth $975,000 after buying an additional 1,990 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ProPetro by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company's stock worth $379,000 after buying an additional 2,230 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in shares of ProPetro by 5.8% in the fourth quarter. Sterling Capital Management LLC now owns 46,415 shares of the company's stock worth $433,000 after buying an additional 2,535 shares during the period. 84.70% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.