ProPetro (NYSE:PUMP) Shares Down 5% – Should You Sell?

ProPetro Holding Corp. (NYSE:PUMP)’s share price fell 5% on Tuesday . The company traded as low as $7.84 and last traded at $7.86. 64,399 shares were traded during trading, a decline of 96% from the average session volume of 1,466,292 shares. The stock had previously closed at $8.27.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stifel Nicolaus reduced their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Barclays decreased their price objective on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday.

ProPetro Stock Up 1.7 %

The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.05. The firm’s 50 day simple moving average is $7.98 and its 200 day simple moving average is $8.51. The company has a market cap of $879.09 million, a price-to-earnings ratio of 12.19 and a beta of 2.02.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $361.85 million. ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The firm’s revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. Sell-side analysts anticipate that ProPetro Holding Corp. will post 0.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michele Vion sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $8.26, for a total transaction of $41,300.00. Following the transaction, the director now owns 34,006 shares in the company, valued at $280,889.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On ProPetro

A number of institutional investors have recently bought and sold shares of PUMP. GAMMA Investing LLC raised its stake in ProPetro by 84.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after purchasing an additional 1,473 shares during the last quarter. Quarry LP bought a new position in shares of ProPetro during the second quarter valued at $40,000. nVerses Capital LLC grew its holdings in shares of ProPetro by 226.3% in the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after purchasing an additional 4,300 shares during the last quarter. Chilton Capital Management LLC lifted its holdings in ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after purchasing an additional 4,000 shares during the last quarter. Finally, CWM LLC raised its position in ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after purchasing an additional 1,267 shares during the last quarter. Hedge funds and other institutional investors own 84.70% 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.