ProPetro (NYSE:PUMP) Releases Earnings Results, Misses Expectations By $0.11 EPS

ProPetro (NYSE:PUMP) announced its earnings results on Wednesday. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11), Briefing.com reports. The company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $361.85 million. ProPetro had a return on equity of 3.39% and a net margin of 2.21%. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS.

ProPetro Stock Down 8.3 %

Shares of PUMP traded down $0.76 during mid-day trading on Friday, hitting $8.45. 2,183,214 shares of the company’s stock were exchanged, compared to its average volume of 1,339,022. The company has a market cap of $909.22 million, a price-to-earnings ratio of 12.64 and a beta of 2.10. ProPetro has a fifty-two week low of $6.99 and a fifty-two week high of $11.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.12 and a current ratio of 1.11. The stock’s 50-day moving average is $8.73 and its 200-day moving average is $8.43.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Stifel Nicolaus lowered their target price on shares of ProPetro from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a research note on Thursday, May 2nd. Finally, Barclays increased their target price on shares of ProPetro from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, ProPetro currently has an average rating of “Moderate Buy” and an average price target of $12.00.

Insider Transactions at ProPetro

In related news, Director Michele Vion sold 7,778 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $9.21, for a total value of $71,635.38. Following the sale, the director now owns 39,006 shares of the company’s stock, valued at $359,245.26. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

ProPetro Company Profile

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.