ProPetro Target of Unusually High Options Trading (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) saw some unusual options trading on Monday. Stock traders purchased 20,466 call options on the stock. This is an increase of approximately 874% compared to the typical volume of 2,101 call options.

Hedge Funds Weigh In On ProPetro

A number of institutional investors and hedge funds have recently modified their holdings of PUMP. Aster Capital Management DIFC Ltd purchased a new stake in ProPetro in the 4th quarter valued at $56,000. Dark Forest Capital Management LP purchased a new stake in ProPetro in the 3rd quarter valued at $57,000. MQS Management LLC purchased a new stake in ProPetro in the 3rd quarter valued at $58,000. Raymond James Financial Inc. purchased a new stake in ProPetro in the 2nd quarter valued at $60,000. Finally, Tower Research Capital LLC TRC raised its position in ProPetro by 70.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after buying an additional 4,461 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PUMP. Barclays raised ProPetro from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $14.00 to $23.00 in a research note on Thursday, May 7th. Bank of America began coverage on ProPetro in a research note on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective for the company. Odeon Capital Group initiated coverage on ProPetro in a research note on Thursday. They issued a “buy” rating for the company. Citigroup upped their target price on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group initiated coverage on ProPetro in a report on Friday, April 10th. They issued a “neutral” rating and a $15.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.50.

ProPetro Trading Up 1.5%

Shares of ProPetro stock traded up $0.23 on Monday, reaching $15.49. 1,991,512 shares of the company’s stock were exchanged, compared to its average volume of 3,753,050. The company has a market capitalization of $1.90 billion, a P/E ratio of -140.77 and a beta of 0.70. ProPetro has a 52 week low of $4.51 and a 52 week high of $18.50. The firm’s 50-day moving average is $15.51 and its two-hundred day moving average is $12.46. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.64.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The firm had revenue of $270.69 million for the quarter, compared to analysts’ expectations of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The company’s revenue for the quarter was down 24.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS. Sell-side analysts predict that ProPetro will post -0.08 EPS for the current fiscal year.

About ProPetro

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.