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

ProPetro Holding Corp. (NYSE:PUMP) CFO David Scott Schorlemer purchased 4,500 shares of the business’s stock in a transaction on Monday, November 4th. The shares were acquired 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. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ProPetro Price Performance

ProPetro stock opened at $7.25 on Wednesday. ProPetro Holding Corp. has a 52 week low of $6.53 and a 52 week high of $10.32. The firm has a market cap of $755.16 million, a P/E ratio of -5.45 and a beta of 2.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.14 and a current ratio of 1.20. The business’s fifty day moving average is $7.76 and its two-hundred day moving average is $8.42.

Institutional Investors Weigh In On ProPetro

Hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its stake in shares of ProPetro by 16.8% during the third quarter. Victory Capital Management Inc. now owns 130,740 shares of the company’s stock valued at $1,001,000 after purchasing an additional 18,836 shares during the last quarter. GSA Capital Partners LLP acquired a new position in ProPetro during the 3rd quarter worth $403,000. Entropy Technologies LP boosted its position in ProPetro by 125.7% in the 3rd quarter. Entropy Technologies LP now owns 52,619 shares of the company’s stock valued at $403,000 after buying an additional 29,305 shares during the last quarter. Stanley Laman Group Ltd. increased its stake in shares of ProPetro by 8.1% in the 3rd quarter. Stanley Laman Group Ltd. now owns 446,234 shares of the company’s stock valued at $3,418,000 after buying an additional 33,482 shares during the period. Finally, nVerses Capital LLC raised its position in shares of ProPetro by 226.3% during the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after acquiring an additional 4,300 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus cut their target price 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 reduced their target price on shares of ProPetro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Barclays dropped their target price on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report 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. Based on data from MarketBeat.com, ProPetro presently has an average rating of “Moderate Buy” and a consensus target price of $10.33.

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.