Traders Buy High Volume of ProPetro Put Options (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) saw unusually large options trading activity on Wednesday. Stock traders bought 6,045 put options on the stock. This is an increase of 607% compared to the average daily volume of 855 put options.

Analysts Set New Price Targets

PUMP has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on shares of ProPetro from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Wolfe Research raised ProPetro to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Barclays boosted their price objective on ProPetro from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. raised ProPetro from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $7.00 to $13.00 in a report on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ProPetro presently has an average rating of “Hold” and an average target price of $12.83.

ProPetro Price Performance

NYSE PUMP traded up $0.03 on Friday, hitting $14.42. The stock had a trading volume of 1,593,925 shares, compared to its average volume of 3,110,677. The firm has a 50-day moving average of $11.23 and a 200-day moving average of $8.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.29. ProPetro has a 52-week low of $4.51 and a 52-week high of $14.56. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 1,442.50 and a beta of 0.70.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.13) by $0.14. The company had revenue of $289.68 million during the quarter, compared to analyst estimates of $279.90 million. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.ProPetro’s revenue was down 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Equities analysts expect that ProPetro will post 0.25 EPS for the current year.

Hedge Funds Weigh In On ProPetro

Institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC lifted its holdings in shares of ProPetro by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock worth $139,000 after acquiring an additional 944 shares during the last quarter. FourThought Financial Partners LLC increased its stake in ProPetro by 3.1% in the fourth quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock valued at $578,000 after acquiring an additional 1,840 shares during the last quarter. Mutual Advisors LLC raised its position in ProPetro by 1.2% during the third quarter. Mutual Advisors LLC now owns 164,822 shares of the company’s stock valued at $864,000 after purchasing an additional 2,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ProPetro by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock worth $379,000 after purchasing an additional 2,230 shares during the last quarter. Finally, Profund Advisors LLC boosted its holdings in shares of ProPetro by 14.2% in the 3rd quarter. Profund Advisors LLC now owns 18,958 shares of the company’s stock worth $99,000 after purchasing an additional 2,355 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

About ProPetro

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.