ProPetro (NYSE:PUMP) Shares Down 6% - Time to Sell?

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) was down 6% on Monday . The company traded as low as $6.17 and last traded at $6.16. Approximately 1,944,857 shares were traded during mid-day trading, an increase of 26% from the average daily volume of 1,548,888 shares. The stock had previously closed at $6.55.

Analysts Set New Price Targets

A number of analysts recently weighed in on PUMP shares. JPMorgan Chase & Co. decreased their price objective on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Barclays decreased their price objective on ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. Finally, Stifel Nicolaus decreased 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, ProPetro has a consensus rating of "Hold" and an average target price of $9.75.

ProPetro Stock Up 1.4%

The company has a debt-to-equity ratio of 0.05, a current ratio of 1.44 and a quick ratio of 1.39. The stock has a fifty day moving average of $5.75 and a two-hundred day moving average of $7.44. The firm has a market capitalization of $629.18 million, a price-to-earnings ratio of -4.23 and a beta of 1.17.

ProPetro (NYSE:PUMP - Get Free Report) last issued its quarterly earnings results 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 2.16% and a negative net margin of 10.60%. The firm had revenue of $359.42 million during the quarter, compared to the consensus estimate of $344.36 million. During the same period last year, the business posted $0.18 EPS. The business's revenue was down 11.4% compared to the same quarter last year. Sell-side analysts anticipate that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Institutional Trading of ProPetro

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its holdings in ProPetro by 205.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock worth $28,000 after acquiring an additional 2,005 shares during the period. Quarry LP acquired a new stake in ProPetro during the 1st quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in ProPetro during the 1st quarter worth about $32,000. State of Wyoming acquired a new stake in ProPetro during the 1st quarter worth about $48,000. Finally, Raymond James Financial Inc. acquired a new stake in ProPetro during the 4th quarter worth about $94,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

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.