ProPetro (NYSE:PUMP) Stock Price Up 2.9%

Shares of ProPetro Holding Corp. (NYSE:PUMP) shot up 2.9% during trading on Thursday . The company traded as high as $8.48 and last traded at $8.43. 106,887 shares changed hands during trading, a decline of 93% from the average session volume of 1,496,824 shares. The stock had previously closed at $8.19.

Analyst Ratings Changes

PUMP has been the subject of several research analyst reports. Benchmark downgraded shares of ProPetro from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. TheStreet cut shares of ProPetro from a “b-” rating to a “c+” rating in a research note on Monday, January 8th.

ProPetro Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.08 and a current ratio of 1.15. The stock’s 50 day simple moving average is $7.86 and its two-hundred day simple moving average is $8.59. The firm has a market capitalization of $917.57 million, a PE ratio of 11.53 and a beta of 2.13.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, February 21st. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.24). The firm had revenue of $347.80 million during the quarter, compared to analysts’ expectations of $351.50 million. ProPetro had a net margin of 5.25% and a return on equity of 10.26%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. On average, sell-side analysts forecast that ProPetro Holding Corp. will post 0.49 EPS for the current year.

Hedge Funds Weigh In On ProPetro

Several large investors have recently modified their holdings of PUMP. Chilton Capital Management LLC acquired a new position in shares of ProPetro in the 1st quarter worth approximately $33,000. Quarry LP boosted its holdings in ProPetro by 119.4% during the 2nd quarter. Quarry LP now owns 5,611 shares of the company’s stock valued at $46,000 after acquiring an additional 3,054 shares during the period. Signaturefd LLC grew its position in ProPetro by 47.1% in the 4th quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after acquiring an additional 2,542 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in ProPetro by 19.5% during the second quarter. Ameritas Investment Partners Inc. now owns 8,147 shares of the company’s stock worth $67,000 after purchasing an additional 1,327 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of ProPetro by 14.0% during the third quarter. Tower Research Capital LLC TRC now owns 9,493 shares of the company’s stock worth $77,000 after purchasing an additional 1,163 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

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.