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

ProPetro Holding Corp. (NYSE:PUMP) was the target of unusually large options trading activity on Monday. Investors bought 20,466 call options on the stock. This is an increase of approximately 874% compared to the typical daily volume of 2,101 call options.

Institutional Trading of ProPetro

A number of large investors have recently modified their holdings of the business. Sourcerock Group LLC boosted its position in shares of ProPetro by 66.4% during the 2nd quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after acquiring an additional 3,355,848 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ProPetro by 14.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company’s stock valued at $93,408,000 after acquiring an additional 831,823 shares during the last quarter. Philosophy Capital Management LLC boosted its position in shares of ProPetro by 14.8% during the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock valued at $21,208,000 after acquiring an additional 520,327 shares during the last quarter. American Century Companies Inc. boosted its position in shares of ProPetro by 5.4% during the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock valued at $19,644,000 after acquiring an additional 192,638 shares during the last quarter. Finally, VR Advisory Services Ltd boosted its position in shares of ProPetro by 213.2% during the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after acquiring an additional 2,504,634 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

PUMP has been the topic of several research reports. Bank of America initiated coverage on shares of ProPetro in a research report on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective on the stock. Piper Sandler lifted their price objective on shares of ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Barclays raised shares of ProPetro from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $14.00 to $23.00 in a research report on Thursday, May 7th. Odeon Capital Group began coverage on ProPetro in a report on Thursday, May 28th. They issued a “buy” rating for the company. Finally, The Goldman Sachs Group began coverage on ProPetro in a report on Friday, April 10th. They issued a “neutral” rating and a $15.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.50.

ProPetro Stock Up 6.7%

PUMP stock opened at $16.37 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.64 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $2.01 billion, a PE ratio of -148.82 and a beta of 0.70. ProPetro has a twelve month low of $4.51 and a twelve month high of $18.50. The stock has a 50-day simple moving average of $15.52 and a two-hundred day simple moving average of $12.49.

ProPetro (NYSE:PUMP) last posted its earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. The business had revenue of $270.69 million during the quarter, compared to analyst estimates of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The company’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 EPS. On average, equities analysts predict that ProPetro will post -0.08 EPS for the current fiscal year.

ProPetro Company Profile

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.