ProPetro Target of Unusually Large Options Trading (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 6,045 put options on the company. This represents an increase of 607% compared to the typical daily volume of 855 put options.

ProPetro Stock Performance

Shares of PUMP stock opened at $13.09 on Thursday. The stock has a fifty day moving average price of $11.14 and a 200 day moving average price of $8.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.29. The stock has a market cap of $1.60 billion, a PE ratio of 1,309.10 and a beta of 0.70. ProPetro has a 1 year low of $4.51 and a 1 year high of $13.25.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The business had revenue of $289.68 million during the quarter, compared to analysts’ expectations of $279.90 million. During the same quarter last year, the business posted ($0.17) earnings per share. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. Sell-side analysts forecast that ProPetro will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Piper Sandler upped their price objective on shares of ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. upgraded shares of ProPetro from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $7.00 to $13.00 in a research note on Wednesday, December 10th. Wolfe Research raised shares of ProPetro to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. Finally, Barclays boosted their target price on ProPetro from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ProPetro has a consensus rating of “Hold” and a consensus price target of $12.83.

Institutional Trading of ProPetro

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ProPetro by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock valued at $379,000 after buying an additional 2,230 shares in the last quarter. Millennium Management LLC increased its position in ProPetro by 44.6% during the first quarter. Millennium Management LLC now owns 735,731 shares of the company’s stock worth $5,408,000 after buying an additional 226,914 shares in the last quarter. Jones Financial Companies Lllp increased its position in ProPetro by 16,264.8% during the first quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company’s stock worth $198,000 after buying an additional 26,837 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ProPetro by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company’s stock worth $4,483,000 after acquiring an additional 21,519 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of ProPetro in the first quarter worth $272,000. Hedge funds and other 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.