ProPetro (NYSE:PUMP) Shares Gap Down to $11.03

ProPetro Holding Corp. (NYSE:PUMPGet Rating) gapped down prior to trading on Monday . The stock had previously closed at $11.03, but opened at $10.63. ProPetro shares last traded at $10.43, with a volume of 4,202 shares traded.

Wall Street Analyst Weigh In

Separately, Evercore ISI decreased their price objective on shares of ProPetro to $13.00 in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, ProPetro has a consensus rating of “Hold” and a consensus target price of $16.13.

ProPetro Price Performance

The firm’s fifty day moving average price is $10.11 and its 200-day moving average price is $10.33. The firm has a market capitalization of $1.28 billion, a P/E ratio of -36.13 and a beta of 2.49.

ProPetro (NYSE:PUMPGet Rating) last issued its earnings results on Tuesday, November 1st. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $333.01 million during the quarter, compared to analysts’ expectations of $339.10 million. ProPetro had a negative net margin of 2.65% and a positive return on equity of 7.36%. Analysts expect that ProPetro Holding Corp. will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Phillip A. Gobe sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $10.00, for a total transaction of $220,000.00. Following the completion of the sale, the director now directly owns 182,111 shares in the company, valued at $1,821,110. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is currently owned by insiders.

Institutional Trading of ProPetro

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of ProPetro by 8.8% in the 3rd quarter. BlackRock Inc. now owns 17,847,360 shares of the company’s stock valued at $143,672,000 after acquiring an additional 1,445,598 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of ProPetro by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,033,275 shares of the company’s stock valued at $88,817,000 after acquiring an additional 361,312 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ProPetro by 16.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,002,856 shares of the company’s stock valued at $69,691,000 after acquiring an additional 713,904 shares in the last quarter. State Street Corp lifted its position in shares of ProPetro by 7.9% in the 3rd quarter. State Street Corp now owns 4,230,810 shares of the company’s stock valued at $34,058,000 after acquiring an additional 311,145 shares in the last quarter. Finally, FMR LLC lifted its position in shares of ProPetro by 69.1% in the 2nd quarter. FMR LLC now owns 4,206,247 shares of the company’s stock valued at $42,062,000 after acquiring an additional 1,718,775 shares in the last quarter. 89.83% of the stock is currently owned by institutional investors.

ProPetro Company Profile

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ProPetro Holding Corp., an oilfield services company, provides hydraulic fracturing and other related services. The company operates through Pressure Pumping and All Other segments. It offers cementing, acidizing, and coiled tubing services. The company serves oil and gas companies engaged in the exploration and production of North American oil and natural gas resources.

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