ProPetro (NYSE:PUMP) Trading Down 14.2% – Here’s What Happened

Shares of ProPetro Holding Corp. (NYSE:PUMP) traded down 14.2% on Friday . The company traded as low as $5.45 and last traded at $5.38. 100,594 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 1,542,839 shares. The stock had previously closed at $6.27.

Wall Street Analyst Weigh In

PUMP has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Benchmark restated a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. JPMorgan Chase & Co. upgraded ProPetro from an “underweight” rating to a “neutral” rating and set a $10.00 price target on the stock in a report on Friday, December 6th. Barclays cut their price objective on ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, Stifel Nicolaus upped their price target on shares of ProPetro from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.75.

ProPetro Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $8.13 and a 200 day moving average price of $8.43. The stock has a market cap of $546.49 million, a PE ratio of -3.98 and a beta of 2.03.

Institutional Trading of ProPetro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of ProPetro by 38.0% during the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after purchasing an additional 1,225 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of ProPetro by 2.5% during the fourth quarter. MetLife Investment Management LLC now owns 52,933 shares of the company’s stock valued at $494,000 after buying an additional 1,270 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of ProPetro by 8.7% during the fourth quarter. Corient Private Wealth LLC now owns 17,591 shares of the company’s stock valued at $164,000 after buying an additional 1,405 shares during the last quarter. Ieq Capital LLC grew its position in shares of ProPetro by 13.0% in the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock worth $127,000 after buying an additional 1,564 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of ProPetro by 205.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after buying an additional 2,005 shares during the last quarter. 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.