BlackRock Fund Advisors has recently announced that it has increased stake in ProPetro Holding Corp. (NYSE:PUMP) by 17.65%. After grabbing 16.79 million shares, the institutional investor is now in possession of 2.52 million shares of the Energy Company. The new investment brought the stake of investor firm to 14.66% having worth around $147.94 million. Moreover, The Vanguard Group, Inc. increased its share by 1.07 million to have a control over 11.85 million shares. And SSgA Funds Management, Inc. raised its holdings to 64449.0 shares by acquiring 4.3 million shares or 3.75% of the stake.
ProPetro Holding Corp. (PUMP) concluded trading on 03/16/23 at a closing price of $7.40, with 1.72 million shares of worth about $12.72 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -20.60% during that period and on Thursday the price saw a gain of about 1.51%. Currently the company’s common shares owned by public are about 111.17M shares, out of which, 96.89M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the PUMP stock and their offered price forecasts bring an average price target of $13.65. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $19.00 and could fall to a lowest price of $10.00. The stock’s current price level is 46.57% above of average price target set by the analysts, while a rise to estimated low would result in gain of 26.0% for the stock. However, touching the estimated high of $19.00 would mean a gain of 61.05% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 80 times over the past 12 months. They bought 1,084,523 shares in 39 of the transactions. In 41 selling transactions, insiders dumped 728,826 shares.
iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and VanEck Oil Services ETF are the top 3 mutual funds which are holding stakes in ProPetro Holding Corp. iShares Core S&P Small Cap ETF is currently holding 7.35 million shares of worth totaling $64.74 million. The company recently came buying 17862.0 shares which brought its stake up to 6.42% of the company’s outstanding shares. VanEck Oil Services ETF, after buying 2.73 million shares, have now control over 2.38% of the stake in the company. It holds 34128.0 shares of worth $24.07 million.
ProPetro Holding Corp. (NYSE: PUMP) started trading at $7.03, below -$0.26 from concluding price of the previous day. However, the stock later moved at a day high price of 10.06, or with a gain of 1.51%. Stock saw a price change of -17.32% in past 5 days and over the past one month there was a price change of -26.15%. Year-to-date (YTD), PUMP shares are showing a performance of -28.64% which decreased to -42.68% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.20 but also hit the highest price of $16.92 during that period. The average intraday trading volume for ProPetro Holding Corp. shares is 1.36 million. The stock is currently trading -18.09% below its 20-day simple moving average (SMA20), while that difference is down -22.24% for SMA50 and it goes to -25.63% lower than SMA200.
BlackRock Fund Advisors acquired 16.79 million shares of ProPetro Holding Corp. having value of about $147.94 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 2.52 million shares in the company valued at close to $18642982.8, or have control over 17.65% stake in the company. ProPetro Holding Corp. (NYSE: PUMP) currently have 111.17M outstanding shares and institutions hold larger chunk of about 81.10% of that. Holding of mutual funds in the company is about 27.20% while other institutional holders and individual stake holders have control over 50.05% and 20.27% of the stake respectively.
The stock has a current market capitalization of $862.91M and its 3Y-monthly beta is at 2.38. PE ratio of stock for trailing 12 months is 1480.00, while it has posted earnings per share of $0.01 in the same period. It has Quick Ratio of 1.10 while making debt-to-equity ratio of 0.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PUMP, volatility over the week remained 7.11% while standing at 6.24% over the month.
Stock’s fiscal year EPS is expected to rise by 103.60% while it is estimated to increase by 12.18% in next year. EPS is likely to grow at an annualized rate of -10.90% for next 5-years, compared to annual growth of -30.30% made by the stock over the past 5-years.
Analysts at 11 brokerage firms have issued recommendations for the ProPetro Holding Corp. (PUMP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.40. Out of those 11 Wall Street analysts, 4 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Coverage by Citigroup stated ProPetro Holding Corp. (PUMP) stock as a Neutral in their note to investors on January 17, 2023, suggesting a price target of $12 for the stock. On January 10, 2023, Barclays Upgrade their recommendations, while on May 26, 2022, JP Morgan Downgrade their ratings for the stock with a price target of $14. Stock get a Buy rating from Tudor Pickering Holt & Co. on May 05, 2022.
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