ProPetro (NYSE:PUMP) Shares Up 6.4% - Should You Buy?

ProPetro Holding Corp. (NYSE:PUMP - Get Free Report)'s share price shot up 6.4% during trading on Monday . The company traded as high as $7.07 and last traded at $7.00. 424,046 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,438,860 shares. The stock had previously closed at $6.58.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PUMP. Citigroup decreased their target price on ProPetro from $8.50 to $8.00 and set a "neutral" rating for the company in a report on Thursday. Barclays decreased their price objective on shares of ProPetro from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Finally, Stifel Nicolaus cut their target price on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, October 11th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.33.

ProPetro Stock Up 7.0 %

The stock has a market capitalization of $733.30 million, a price-to-earnings ratio of -5.29 and a beta of 2.04. The firm has a 50-day moving average of $7.80 and a 200 day moving average of $8.44. The company has a current ratio of 1.20, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05.

Insider Transactions at ProPetro

In other ProPetro news, Director Michele Vion sold 5,000 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $8.26, for a total value of $41,300.00. Following the completion of the transaction, the director now directly owns 34,006 shares of the company's stock, valued at $280,889.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Michele Vion sold 5,000 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the completion of the transaction, the director now directly owns 34,006 shares in the company, valued at approximately $280,889.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO David Scott Schorlemer purchased 4,500 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $6.86 per share, with a total value of $30,870.00. Following the purchase, the chief financial officer now owns 112,992 shares of the company's stock, valued at approximately $775,125.12. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.88% of the company's stock.

Hedge Funds Weigh In On ProPetro

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of ProPetro by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company's stock worth $61,515,000 after purchasing an additional 54,555 shares during the period. Pacer Advisors Inc. bought a new stake in shares of ProPetro during the 2nd quarter valued at about $31,741,000. American Century Companies Inc. raised its stake in ProPetro by 21.3% during the second quarter. American Century Companies Inc. now owns 2,515,579 shares of the company's stock worth $21,810,000 after acquiring an additional 441,644 shares during the period. Encompass Capital Advisors LLC lifted its holdings in ProPetro by 2.4% in the second quarter. Encompass Capital Advisors LLC now owns 1,526,485 shares of the company's stock worth $13,235,000 after acquiring an additional 36,339 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in ProPetro by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 780,498 shares of the company's stock valued at $6,767,000 after acquiring an additional 14,144 shares during the period. 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.