David Scott Schorlemer Acquires 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 stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the acquisition, the chief financial officer now directly owns 112,992 shares in the company, valued at $775,125.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ProPetro Trading Up 7.0 %

Shares of PUMP stock traded up $0.46 during trading hours on Monday, hitting $7.04. The company had a trading volume of 2,018,270 shares, compared to its average volume of 1,446,345. ProPetro Holding Corp. has a fifty-two week low of $6.53 and a fifty-two week high of $10.32. The company’s fifty day moving average is $7.80 and its 200 day moving average is $8.44. The stock has a market capitalization of $733.30 million, a PE ratio of -5.29 and a beta of 2.04. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.04.

Wall Street Analysts Forecast Growth

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

Institutional Trading of ProPetro

A number of large investors have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new position in ProPetro during the 1st quarter valued at about $551,000. Russell Investments Group Ltd. boosted its holdings in shares of ProPetro by 36.9% during the first quarter. Russell Investments Group Ltd. now owns 384,529 shares of the company’s stock valued at $3,107,000 after acquiring an additional 103,644 shares during the period. Jennison Associates LLC acquired a new stake in ProPetro in the first quarter worth about $960,000. SG Americas Securities LLC acquired a new stake in ProPetro during the 2nd quarter worth about $746,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of ProPetro in the 3rd quarter valued at about $1,013,000. 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.