ProPetro (NYSE:PUMP) Trading 2.9% Higher

ProPetro Holding Corp. (NYSE:PUMP)’s share price was up 2.9% during trading on Thursday . The company traded as high as $8.48 and last traded at $8.43. Approximately 106,887 shares traded 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on PUMP. Benchmark lowered ProPetro from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. TheStreet cut shares of ProPetro from a “b-” rating to a “c+” rating in a report on Monday, January 8th.

ProPetro Stock Performance

The company has a market cap of $917.57 million, a P/E ratio of 11.53 and a beta of 2.13. The business’s 50 day simple moving average is $7.86 and its 200 day simple moving average is $8.59. The company has a current ratio of 1.15, a quick ratio of 1.08 and a debt-to-equity ratio of 0.05.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PUMP. BlackRock Inc. boosted its stake in shares of ProPetro by 8.8% during the 3rd quarter. BlackRock Inc. now owns 17,847,360 shares of the company’s stock worth $143,672,000 after purchasing an additional 1,445,598 shares during the period. Vanguard Group Inc. lifted its holdings in ProPetro by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,033,275 shares of the company’s stock valued at $88,817,000 after buying an additional 361,312 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in ProPetro by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock worth $61,120,000 after acquiring an additional 378,379 shares in the last quarter. State Street Corp increased its position in shares of ProPetro by 6.7% during the first quarter. State Street Corp now owns 4,584,796 shares of the company’s stock worth $32,965,000 after acquiring an additional 289,537 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of ProPetro by 7.7% during the second quarter. Geode Capital Management LLC now owns 1,901,879 shares of the company’s stock valued at $15,671,000 after acquiring an additional 136,323 shares in the last quarter. 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.