ProPetro (NYSE:PUMP) Shares Up 2.9%

ProPetro Holding Corp. (NYSE:PUMP)’s stock price was up 2.9% during trading on Thursday . The stock traded as high as $8.48 and last traded at $8.43. Approximately 106,887 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 1,496,824 shares. The stock had previously closed at $8.19.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PUMP shares. TheStreet lowered shares of ProPetro from a “b-” rating to a “c+” rating in a research note on Monday, January 8th. Benchmark lowered shares of ProPetro from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th.

ProPetro Stock Up 5.3 %

The firm’s fifty day moving average price is $7.85 and its 200-day moving average price is $8.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.15 and a quick ratio of 1.08. The firm has a market capitalization of $927.25 million, a P/E ratio of 11.64 and a beta of 2.13.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Wednesday, February 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.24). The company had revenue of $347.80 million during the quarter, compared to the consensus estimate of $351.50 million. ProPetro had a net margin of 5.25% and a return on equity of 10.26%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $0.31 earnings per share. As a group, equities research analysts forecast that ProPetro Holding Corp. will post 0.49 earnings per share for the current year.

Institutional Trading of ProPetro

Large investors have recently added to or reduced their stakes in the business. Chilton Capital Management LLC acquired a new position in ProPetro in the 1st quarter worth approximately $33,000. Quarry LP boosted its stake in ProPetro by 119.4% in the 2nd quarter. Quarry LP now owns 5,611 shares of the company’s stock worth $46,000 after purchasing an additional 3,054 shares during the period. Point72 Hong Kong Ltd acquired a new position in ProPetro in the 1st quarter worth approximately $108,000. Signaturefd LLC lifted its position in ProPetro by 47.1% in the 4th quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock worth $66,000 after buying an additional 2,542 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in ProPetro by 19.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,147 shares of the company’s stock worth $67,000 after buying an additional 1,327 shares in the last quarter. 84.70% of the stock is currently owned by 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.