ProPetro (NYSE:PUMP) Stock: Insider Caleb Lyle Weatherl Buys 2,000 Shares

ProPetro Holding Corp. (NYSE:PUMP) CFO Caleb Lyle Weatherl purchased 2,000 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was purchased at an average price of $7.78 per share, for a total transaction of $15,560.00. Following the acquisition, the chief financial officer owned 29,338 shares in the company, valued at approximately $228,249.64. This trade represents a 7.32% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

ProPetro Stock Performance

NYSE:PUMP opened at $7.12 on Wednesday. The company has a quick ratio of 3.41, a current ratio of 3.49 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $9.43 and a 200-day simple moving average of $12.50. ProPetro Holding Corp. has a 52-week low of $6.93 and a 52-week high of $18.50.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. ProPetro had a net margin of 0.16% and a return on equity of 0.21%. The company had revenue of $355.38 million for the quarter, compared to the consensus estimate of $320.44 million. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts predict that ProPetro Holding Corp. will post -0.09 earnings per share for the current year.

Analyst Ratings Changes

PUMP has been the subject of several analyst reports. Morgan Stanley dropped their target price on ProPetro from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 14th. Citigroup lowered their price target on ProPetro from $16.00 to $14.50 and set a “buy” rating for the company in a report on Friday, October 2nd. Piper Sandler lowered their price target on shares of ProPetro from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, August 27th. Scotiabank lifted their price objective on ProPetro from $12.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday, October 30th. Finally, Weiss Ratings upgraded shares of ProPetro from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, ProPetro presently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Hedge Funds Weigh In On ProPetro

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in ProPetro by 422.0% in the 3rd quarter. Parallel Advisors LLC now owns 2,876 shares of the company’s stock worth $25,000 after purchasing an additional 2,325 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of ProPetro by 1,062.2% in the third quarter. Sterling Capital Management LLC now owns 4,091 shares of the company’s stock valued at $36,000 after purchasing an additional 3,739 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of ProPetro during the second quarter valued at approximately $74,000. State of Alaska Department of Revenue raised its holdings in shares of ProPetro by 44.6% during the third quarter. State of Alaska Department of Revenue now owns 5,359 shares of the company’s stock valued at $47,000 after buying an additional 1,653 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of ProPetro during the first quarter worth approximately $83,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Company Profile

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to oil and natural gas exploration and production companies. Its primary offerings include hydraulic fracturing, well stimulation and wireline services used to prepare newly drilled wells for production and support ongoing well operations.

The company operates primarily in the Permian Basin, serving customers in the West Texas and southeastern New Mexico region. ProPetro’s services are focused on unconventional shale and tight-rock wells, where specialized pumping, pressure-control and downhole technologies are used to improve hydrocarbon recovery.

ProPetro was founded in 2007 and is headquartered in Midland, Texas.