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

ProPetro Holding Corp. (NYSE:PUMPGet Free Report) was the target of some unusual options trading on Monday. Stock traders bought 20,466 call options on the company. This is an increase of 874% compared to the average daily volume of 2,101 call options.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PUMP shares. Citigroup increased their price target on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Odeon Capital Group initiated coverage on ProPetro in a research report on Thursday. They issued a “buy” rating on the stock. Weiss Ratings lowered ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Piper Sandler lifted their target price on ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Finally, The Goldman Sachs Group began coverage on ProPetro in a research note on Friday, April 10th. They set a “neutral” rating and a $15.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ProPetro presently has an average rating of “Moderate Buy” and an average price target of $16.50.

Get Our Latest Report on PUMP

ProPetro Stock Performance

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

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new position in ProPetro in the 3rd quarter worth about $2,280,000. American Century Companies Inc. boosted its stake in ProPetro by 5.4% in the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock worth $19,644,000 after purchasing an additional 192,638 shares during the period. Quantbot Technologies LP boosted its stake in ProPetro by 50.5% in the 3rd quarter. Quantbot Technologies LP now owns 262,804 shares of the company’s stock worth $1,377,000 after purchasing an additional 88,152 shares during the period. JPMorgan Chase & Co. boosted its stake in ProPetro by 103.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock worth $8,636,000 after purchasing an additional 837,776 shares during the period. Finally, Dana Investment Advisors Inc. boosted its stake in ProPetro by 21.9% in the 3rd quarter. Dana Investment Advisors Inc. now owns 932,470 shares of the company’s stock worth $4,886,000 after purchasing an additional 167,509 shares during the period. Institutional investors own 84.70% of the company’s stock.

ProPetro Company Profile

(Get Free Report)

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.

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