ProPetro (NYSE:PUMP) Shares Up 8.3% - What's Next?

Shares of ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) shot up 8.3% on Tuesday . The company traded as high as $5.87 and last traded at $5.87. 409,580 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 1,559,044 shares. The stock had previously closed at $5.42.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PUMP shares. Benchmark reissued a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. 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. Barclays reduced their target price on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Finally, Stifel Nicolaus decreased their target price on ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, ProPetro has an average rating of "Hold" and an average target price of $9.75.

ProPetro Trading Up 0.8%

The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $594.88 million, a P/E ratio of -4.27 and a beta of 1.17. The stock's 50 day moving average price is $5.53 and its 200-day moving average price is $7.64.

ProPetro (NYSE:PUMP - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. ProPetro had a positive return on equity of 3.20% and a negative net margin of 9.55%. The firm had revenue of $359.42 million during the quarter, compared to analysts' expectations of $344.36 million. During the same period in the prior year, the business posted $0.18 EPS. The firm's quarterly revenue was down 11.4% 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 Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its stake in ProPetro by 205.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock valued at $28,000 after acquiring an additional 2,005 shares in the last quarter. Quarry LP purchased a new stake in shares of ProPetro during the 1st quarter valued at $25,000. Headlands Technologies LLC purchased a new position in ProPetro during the 1st quarter worth $32,000. State of Wyoming acquired a new position in ProPetro during the 1st quarter valued at about $48,000. Finally, KBC Group NV raised its stake in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company's stock valued at $75,000 after buying an additional 3,821 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company's stock.

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.