Insider Buying: ProPetro Holding Corp. (NYSE:PUMP) CFO Acquires 4,500 Shares of Stock

ProPetro Holding Corp. (NYSE:PUMP) CFO David Scott Schorlemer bought 4,500 shares of the stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $6.86 per share, with a total value of $30,870.00. Following the acquisition, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $775,125.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ProPetro Trading Up 3.0 %

NYSE:PUMP opened at $7.25 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14. The stock has a market capitalization of $755.16 million, a PE ratio of -5.45 and a beta of 2.04. The business’s 50-day simple moving average is $7.76 and its 200-day simple moving average is $8.42. ProPetro Holding Corp. has a fifty-two week low of $6.53 and a fifty-two week high of $10.32.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PUMP shares. Stifel Nicolaus dropped their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, October 11th. Barclays cut their price target on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Citigroup decreased their price objective on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, ProPetro has a consensus rating of “Moderate Buy” and a consensus target price of $10.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC lifted its position in ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after acquiring an additional 1,267 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of ProPetro by 84.3% in the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock valued at $25,000 after purchasing an additional 1,473 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of ProPetro by 1.8% during the second quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock worth $970,000 after buying an additional 1,990 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of ProPetro by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 37,392 shares of the company’s stock worth $324,000 after buying an additional 2,257 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in ProPetro by 8.9% in the 2nd quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock valued at $259,000 after buying an additional 2,446 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

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.