Stock Traders Buy High Volume of ProPetro Call Options (NYSE:PUMP)

ProPetro Holding Corp. (NYSE:PUMP) saw some unusual options trading activity on Monday. Traders bought 27,603 call options on the company. This is an increase of 3,707% compared to the average daily volume of 725 call options.

Analysts Set New Price Targets

A number of research firms have commented on PUMP. The Goldman Sachs Group began coverage on shares of ProPetro in a research note on Friday, April 10th. They set a “neutral” rating and a $15.00 price objective for the company. Bank of America began coverage on shares of ProPetro in a research note on Monday, March 30th. They set a “buy” rating and a $18.00 price objective for the company. Barclays upped their price objective on shares of ProPetro from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Citigroup raised shares of ProPetro from a “neutral” rating to a “buy” rating and upped their price objective for the company from $12.00 to $16.00 in a research note on Wednesday, April 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProPetro in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new position in ProPetro during the fourth quarter valued at approximately $56,000. Raymond James Financial Inc. acquired a new position in ProPetro in the second quarter worth approximately $60,000. Tower Research Capital LLC TRC increased its holdings in ProPetro by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock worth $64,000 after buying an additional 4,461 shares during the last quarter. Trek Financial LLC acquired a new position in ProPetro in the third quarter worth approximately $57,000. Finally, Dark Forest Capital Management LP acquired a new position in ProPetro in the third quarter worth approximately $57,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Stock Up 1.2%

PUMP traded up $0.20 on Monday, reaching $17.20. 2,433,262 shares of the company traded hands, compared to its average volume of 2,941,857. The stock’s 50 day moving average price is $13.60 and its 200-day moving average price is $11.00. ProPetro has a 52-week low of $4.51 and a 52-week high of $17.33. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 1,720.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 1.24.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. ProPetro had a net margin of 0.06% and a return on equity of 0.10%. The firm had revenue of $289.68 million for the quarter, compared to the consensus estimate of $279.90 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The firm’s revenue was down 9.6% on a year-over-year basis. On average, sell-side analysts expect that ProPetro will post -0.13 EPS for the current fiscal year.

About ProPetro

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.