Insider Selling: ProPetro Holding Corp. (NYSE:PUMP) Director Sells 40,000 Shares of Stock

ProPetro Holding Corp. (NYSE:PUMP – Get Rating) Director Phillip A. Gobe sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $13.88, for a total value of $555,200.00. Following the completion of the sale, the director now owns 204,111 shares of the company’s stock, valued at $2,833,060.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of PUMP traded down $0.40 on Thursday, reaching $13.82. 1,307,882 shares of the stock traded hands, compared to its average volume of 1,204,343. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -63.82 and a beta of 2.52. ProPetro Holding Corp. has a 12 month low of $6.39 and a 12 month high of $16.92. The stock’s 50-day moving average price is $13.75 and its 200-day moving average price is $11.81.

ProPetro (NYSE:PUMP – Get Rating) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The business had revenue of $282.68 million for the quarter, compared to analysts’ expectations of $273.81 million. ProPetro had a negative return on equity of 2.62% and a negative net margin of 2.21%. ProPetro’s quarterly revenue was up 75.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) earnings per share. As a group, equities research analysts anticipate that ProPetro Holding Corp. will post 0.75 earnings per share for the current year.

A number of large investors have recently made changes to their positions in PUMP. Royal Bank of Canada grew its position in ProPetro by 1,948.7% in the second quarter. Royal Bank of Canada now owns 6,146 shares of the company’s stock valued at $57,000 after acquiring an additional 5,846 shares during the period. Morgan Stanley grew its position in ProPetro by 250.1% in the second quarter. Morgan Stanley now owns 681,595 shares of the company’s stock valued at $6,244,000 after acquiring an additional 486,926 shares during the period. Goldman Sachs Group Inc. grew its position in ProPetro by 234.4% in the third quarter. Goldman Sachs Group Inc. now owns 385,455 shares of the company’s stock valued at $3,334,000 after acquiring an additional 270,197 shares during the period. US Bancorp DE grew its position in ProPetro by 129.1% in the third quarter. US Bancorp DE now owns 4,513 shares of the company’s stock valued at $39,000 after acquiring an additional 2,543 shares during the period. Finally, Hsbc Holdings PLC grew its position in ProPetro by 34.1% in the third quarter. Hsbc Holdings PLC now owns 35,956 shares of the company’s stock valued at $310,000 after acquiring an additional 9,138 shares during the period. Hedge funds and other institutional investors own 86.35% of the company’s stock.

Several equities research analysts recently weighed in on PUMP shares. Tudor Pickering upgraded ProPetro from a “hold” rating to a “buy” rating in a report on Thursday, May 5th. JPMorgan Chase & Co. lowered ProPetro from an “overweight” rating to an “underweight” rating and reduced their target price for the stock from $16.00 to $14.00 in a report on Thursday, May 26th. Tudor, Pickering, Holt & Co. upgraded ProPetro from a “hold” rating to a “buy” rating in a report on Thursday, May 5th. R. F. Lafferty upped their price target on ProPetro from $11.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 23rd. Finally, Stifel Nicolaus upped their price target on ProPetro from $13.00 to $16.00 in a report on Friday, April 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, ProPetro has a consensus rating of “Hold” and an average target price of $16.13.

About ProPetro (Get Rating)

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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