Key Points
- ProPetro CFO Caleb Lyle Weatherl purchased 2,000 shares at an average price of $7.78, investing $15,560 and increasing his ownership by 7.32% to 29,338 shares.
- ProPetro shares opened at $6.97, down 9.8%, and were near their 52-week low of $6.93. The stock remains below its 50-day and 200-day moving averages.
- The company exceeded quarterly expectations, reporting $0.09 in EPS versus consensus of a $0.01 loss and revenue of $355.38 million, up 20.9% year over year. Analysts maintain a consensus “Moderate Buy” rating with a $15.25 target price.
ProPetro Holding Corp. (NYSE:PUMP - Get Free Report) CFO Caleb Lyle Weatherl bought 2,000 shares of ProPetro 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 acquisition, the chief financial officer owned 29,338 shares in the company, valued at approximately $228,249.64. The trade was a 7.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.
ProPetro Stock Down 9.8%
Shares of NYSE PUMP opened at $6.97 on Tuesday. The business's 50 day moving average is $9.50 and its two-hundred day moving average is $12.51. ProPetro Holding Corp. has a 1-year low of $6.93 and a 1-year high of $18.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 4.00.
ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly earnings data 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. ProPetro had a return on equity of 0.21% and a net margin of 0.16%. The company had revenue of $355.38 million during the quarter, compared to analysts' expectations of $320.44 million. During the same quarter in the previous year, the business earned ($0.02) EPS. ProPetro's revenue was up 20.9% compared to the same quarter last year. As a group, analysts anticipate that ProPetro Holding Corp. will post -0.09 earnings per share for the current fiscal year.
Analyst Ratings Changes
PUMP has been the subject of a number of research reports. Piper Sandler decreased their target price on shares of ProPetro from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday, August 27th. Wall Street Zen raised ProPetro from a "sell" rating to a "hold" rating in a report on Saturday. Morgan Stanley lowered their target price on ProPetro from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 14th. Stifel Nicolaus dropped their target price on ProPetro from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Finally, Weiss Ratings lowered ProPetro from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ProPetro currently has an average rating of "Moderate Buy" and a consensus target price of $15.25.
Check Out Our Latest Research Report on ProPetro
Institutional Trading of ProPetro
Several institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC raised its holdings in shares of ProPetro by 33.0% during the third quarter. Kestra Advisory Services LLC now owns 35,500 shares of the company's stock valued at $314,000 after acquiring an additional 8,800 shares during the last quarter. Arlington Capital Management INC boosted its position 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 holdings in ProPetro by 18.8% in the 3rd quarter. ProShare Advisors LLC now owns 15,571 shares of the company's stock valued at $138,000 after purchasing an additional 2,459 shares during the last quarter. Sterling Capital Management LLC lifted 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 acquiring an additional 3,739 shares during the last quarter. Finally, Inspire Investing LLC grew its holdings in shares of ProPetro by 53.0% during the 3rd quarter. Inspire Investing LLC now owns 72,075 shares of the company's stock worth $637,000 after purchasing an additional 24,968 shares during the period. Institutional investors and hedge funds own 84.70% of the company's stock.
ProPetro Company Profile
(
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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