Insider Selling: ProPetro (NYSE:PUMP) Director Sells 27,000 Shares of Stock

ProPetro Holding Corp. (NYSE:PUMP) Director G Larry Lawrence sold 27,000 shares of ProPetro stock in a transaction on Friday, October 31st. The shares were sold at an average price of $10.84, for a total transaction of $292,680.00. Following the completion of the sale, the director owned 35,831 shares in the company, valued at approximately $388,408.04. This represents a 42.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

ProPetro Price Performance

NYSE PUMP traded up $0.56 on Monday, reaching $10.94. The company had a trading volume of 6,037,405 shares, compared to its average volume of 2,222,248. The company has a quick ratio of 1.35, a current ratio of 1.26 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.14 billion, a PE ratio of -64.34 and a beta of 1.00. The firm’s 50 day moving average price is $5.61 and its 200 day moving average price is $5.65. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $11.66.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $293.92 million for the quarter, compared to the consensus estimate of $266.25 million. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. ProPetro’s revenue for the quarter was down 18.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.32) EPS. As a group, equities analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On ProPetro

Large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in ProPetro in the 1st quarter valued at about $25,000. Headlands Technologies LLC purchased a new stake in ProPetro in the 1st quarter valued at about $32,000. State of Wyoming bought a new stake in shares of ProPetro in the 1st quarter valued at about $48,000. Raymond James Financial Inc. bought a new stake in shares of ProPetro in the 2nd quarter valued at about $60,000. Finally, PharVision Advisers LLC bought a new stake in shares of ProPetro in the 2nd quarter valued at about $60,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PUMP shares. Stifel Nicolaus set a $10.00 target price on shares of ProPetro and gave the stock a “buy” rating in a report on Wednesday, July 16th. Barclays boosted their target price on shares of ProPetro from $5.00 to $10.00 and gave the stock an “equal weight” rating in a report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of ProPetro in a report on Wednesday, October 8th. Zacks Research upgraded shares of ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Finally, Citigroup boosted their target price on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.00.

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.