ProPetro Holding Corp. (NYSE:PUMP) CFO David Scott Schorlemer Purchases 4,500 Shares

ProPetro Holding Corp. (NYSE:PUMP) CFO David Scott Schorlemer bought 4,500 shares of the stock in a transaction dated Monday, November 4th. The stock was acquired at an average price of $6.86 per share, with a total value of $30,870.00. Following the completion of the purchase, the chief financial officer now owns 112,992 shares of the company’s stock, valued at $775,125.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ProPetro Trading Up 7.0 %

NYSE PUMP traded up $0.46 during trading hours on Monday, hitting $7.04. 2,018,270 shares of the company’s stock were exchanged, compared to its average volume of 1,446,345. The stock has a 50-day simple moving average of $7.80 and a 200 day simple moving average of $8.44. ProPetro Holding Corp. has a 1-year low of $6.53 and a 1-year high of $10.32. The firm has a market cap of $733.30 million, a price-to-earnings ratio of -5.29 and a beta of 2.04. The company has a current ratio of 1.20, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05.

Institutional Trading of ProPetro

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of ProPetro by 84.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after purchasing an additional 1,473 shares in the last quarter. Quarry LP purchased a new stake in shares of ProPetro in the 2nd quarter worth approximately $40,000. nVerses Capital LLC boosted its stake in ProPetro by 226.3% during the 3rd quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock valued at $47,000 after purchasing an additional 4,300 shares during the last quarter. Chilton Capital Management LLC grew its position in shares of ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after purchasing an additional 4,000 shares in the last quarter. Finally, CWM LLC boosted its position in shares of ProPetro by 17.2% during the third quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after buying an additional 1,267 shares during the period. 84.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.