ProPetro (NYSE:PUMP) Trading 4.4% Higher – Should You Buy?

ProPetro Holding Corp. (NYSE:PUMP)’s share price traded up 4.4% during trading on Monday . The stock traded as high as $9.47 and last traded at $9.44. 382,027 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 1,506,832 shares. The stock had previously closed at $9.04.

Analysts Set New Price Targets

PUMP has been the topic of several research analyst reports. Citigroup dropped their target price on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Barclays lowered their price target on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. JPMorgan Chase & Co. raised ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price objective on the stock in a report on Friday, December 6th. 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 report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.25.

ProPetro Price Performance

The company has a market capitalization of $961.37 million, a price-to-earnings ratio of -7.02 and a beta of 2.07. The firm has a 50-day simple moving average of $8.23 and a two-hundred day simple moving average of $8.21. The company has a current ratio of 1.20, a quick ratio of 1.14 and a debt-to-equity ratio of 0.05.

Insider Buying and Selling

In other news, CFO David Scott Schorlemer acquired 4,500 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the transaction, the chief financial officer now owns 112,992 shares in the company, valued at approximately $775,125.12. The trade was a 4.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ProPetro

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after purchasing an additional 1,473 shares during the period. Quarry LP purchased a new position in shares of ProPetro during the 2nd quarter valued at approximately $40,000. nVerses Capital LLC grew its stake in ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after acquiring an additional 4,300 shares during the period. Chilton Capital Management LLC increased its holdings in ProPetro by 87.1% in the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after acquiring an additional 4,000 shares in the last quarter. Finally, CWM LLC raised its position in ProPetro by 17.2% during the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after acquiring an additional 1,267 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

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.