ProPetro (NYSE:PUMP) Shares Down 4.4% - Here's Why

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.

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

Analysts Set New Price Targets

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

ProPetro Trading Up 4.0%

The stock's 50 day moving average price is $5.98 and its 200-day moving average price is $6.66. The stock has a market capitalization of $499.58 million, a P/E ratio of -3.27 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.

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

Institutional Trading of ProPetro

Large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of ProPetro in the 1st quarter valued at approximately $25,000. Headlands Technologies LLC acquired a new position in shares of ProPetro during the 1st quarter worth about $32,000. State of Wyoming acquired a new position in shares of ProPetro in the 1st quarter valued at $48,000. Raymond James Financial Inc. purchased a new position in shares of ProPetro during the fourth quarter worth about $94,000. Finally, Tower Research Capital LLC TRC increased its position in ProPetro by 101.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company's stock worth $98,000 after buying an additional 5,270 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Company Profile

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.