Michele Vion Sells 6,916 Shares of ProPetro (NYSE:PUMP) Stock

ProPetro Holding Corp. (NYSE:PUMP) Director Michele Vion sold 6,916 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $10.64, for a total transaction of $73,586.24. Following the sale, the director directly owned 45,029 shares of the company’s stock, valued at approximately $479,108.56. This represents a 13.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ProPetro Stock Down 7.0%

Shares of PUMP stock opened at $10.19 on Wednesday. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $11.66. The stock has a market cap of $1.06 billion, a P/E ratio of -59.91 and a beta of 1.00. The company has a current ratio of 1.26, a quick ratio of 1.35 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $5.84 and a two-hundred day simple moving average of $5.72.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. ProPetro had a negative net margin of 1.31% and a negative return on equity of 0.06%. The business had revenue of $293.92 million during the quarter, compared to analysts’ expectations of $266.25 million. During the same period in the prior year, the company earned ($1.32) earnings per share. The firm’s revenue was down 18.6% on a year-over-year basis. On average, research analysts expect that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On ProPetro

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of ProPetro during the first quarter worth $25,000. Headlands Technologies LLC bought a new position in shares of ProPetro during the first quarter worth $32,000. State of Wyoming bought a new position in shares of ProPetro during the first quarter worth $48,000. Raymond James Financial Inc. bought a new position in shares of ProPetro during the second quarter worth $60,000. Finally, PharVision Advisers LLC bought a new position in shares of ProPetro during the second quarter worth $60,000. Institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PUMP shares. Zacks Research raised shares of ProPetro from a “strong sell” rating to a “hold” rating in a report on Thursday, October 23rd. Piper Sandler upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and set a $16.00 price target for the company in a research report on Monday. Stifel Nicolaus set a $10.00 price target on shares of ProPetro and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Citigroup upped their price target on shares of ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Finally, Barclays upped their price target on shares of ProPetro from $5.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Monday. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $11.00.

About ProPetro

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.