ProPetro (NYSE:PUMP) CFO Caleb Lyle Weatherl Buys 2,000 Shares of Company Stock

ProPetro Holding Corp. (NYSE:PUMP – Get Free Report) CFO Caleb Lyle Weatherl purchased 2,000 shares of the stock in a transaction dated Friday, October 30th. The stock was acquired at an average price of $7.78 per share, for a total transaction of $15,560.00. Following the completion of the transaction, the chief financial officer directly owned 29,338 shares of the company’s stock, valued at approximately $228,249.64. The trade was a 7.32% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ProPetro Trading Down 9.8%

Shares of ProPetro stock traded down $0.76 during trading on Monday, hitting $6.97. 4,987,642 shares of the company were exchanged, compared to its average volume of 4,052,220. The company has a current ratio of 3.49, a quick ratio of 3.41 and a debt-to-equity ratio of 0.83. ProPetro Holding Corp. has a fifty-two week low of $6.93 and a fifty-two week high of $18.50. The firm has a 50 day moving average price of $9.59 and a 200 day moving average price of $12.53.

ProPetro (NYSE:PUMP – Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. The firm had revenue of $355.38 million for the quarter, compared to analyst estimates of $320.44 million. ProPetro had a return on equity of 0.21% and a net margin of 0.16%. ProPetro’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, equities research analysts predict that ProPetro Holding Corp. will post -0.09 EPS for the current year.

Institutional Trading of ProPetro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arlington Capital Management INC increased its stake in shares of ProPetro by 1.5% during the 3rd quarter. Arlington Capital Management INC now owns 271,044 shares of the company’s stock valued at $2,396,000 after acquiring an additional 3,986 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of ProPetro by 18.8% in the third quarter. ProShare Advisors LLC now owns 15,571 shares of the company’s stock worth $138,000 after acquiring an additional 2,459 shares during the last quarter. Sterling Capital Management LLC grew its holdings in ProPetro by 1,062.2% in the third quarter. Sterling Capital Management LLC now owns 4,091 shares of the company’s stock valued at $36,000 after purchasing an additional 3,739 shares during the period. Inspire Investing LLC grew its holdings in ProPetro by 53.0% in the third quarter. Inspire Investing LLC now owns 72,075 shares of the company’s stock valued at $637,000 after purchasing an additional 24,968 shares during the period. Finally, Pension & Wealth Management Advisors Inc. grew its holdings in ProPetro by 96.5% in the third quarter. Pension & Wealth Management Advisors Inc. now owns 16,621 shares of the company’s stock valued at $147,000 after purchasing an additional 8,161 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Scotiabank upped their target price on shares of ProPetro from $12.00 to $16.00 and gave the company a “sector perform” rating in a report on Friday. Freedom Broker raised shares of ProPetro from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Piper Sandler cut their price target on ProPetro from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Weiss Ratings lowered ProPetro from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 29th. Finally, Wall Street Zen raised ProPetro from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ProPetro currently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Read Our Latest Research Report on ProPetro

About ProPetro

(Get Free Report)

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to oil and natural gas exploration and production companies. Its primary offerings include hydraulic fracturing, well stimulation and wireline services used to prepare newly drilled wells for production and support ongoing well operations.

The company operates primarily in the Permian Basin, serving customers in the West Texas and southeastern New Mexico region. ProPetro’s services are focused on unconventional shale and tight-rock wells, where specialized pumping, pressure-control and downhole technologies are used to improve hydrocarbon recovery.

ProPetro was founded in 2007 and is headquartered in Midland, Texas.

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