ProPetro (NYSE:PUMP) Shares Up 4.6% - What's Next?

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report)'s share price traded up 4.6% during trading on Tuesday . The stock traded as high as $6.65 and last traded at $6.74. 69,451 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,561,567 shares. The stock had previously closed at $6.44.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stifel Nicolaus reduced their price objective on ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. cut their price target on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Benchmark reissued a "hold" rating on shares of ProPetro in a report on Thursday, February 20th. Finally, Barclays dropped their price objective on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $9.75.

ProPetro Price Performance

The business has a fifty day moving average of $5.68 and a 200-day moving average of $7.49. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.05. The firm has a market cap of $681.13 million, a PE ratio of -4.58 and a beta of 1.17.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. ProPetro had a positive return on equity of 2.16% and a negative net margin of 10.60%. The firm had revenue of $359.42 million for the quarter, compared to analysts' expectations of $344.36 million. During the same period in the prior year, the business posted $0.18 earnings per share. The company's revenue was down 11.4% on a year-over-year basis. As a group, research analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Institutional Trading of ProPetro

Institutional investors and hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. lifted its stake in ProPetro by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 384,768 shares of the company's stock worth $3,590,000 after purchasing an additional 6,099 shares in the last quarter. New York State Common Retirement Fund lifted its stake in ProPetro by 46.9% in the 4th quarter. New York State Common Retirement Fund now owns 23,498 shares of the company's stock worth $219,000 after purchasing an additional 7,502 shares in the last quarter. Ieq Capital LLC lifted its stake in ProPetro by 13.0% in the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company's stock worth $127,000 after purchasing an additional 1,564 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in ProPetro in the 4th quarter worth approximately $175,000. Finally, Smartleaf Asset Management LLC lifted its stake in ProPetro by 205.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock worth $28,000 after purchasing an additional 2,005 shares in the last quarter. 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.