Now Is A Suitable Moment For A Long-Term Purchase Of ProPetro Holding Corp. (NYSE: PUMP)

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    The Vanguard Group, Inc. recently announced the acquisition of new stake in ProPetro Holding Corp. (NYSE:PUMP). The institutional investor has increased its shareholding in the Energy company by 5.56% to 9.23 million shares with purchase of 0.49 million shares. This fresh investment now brings its stake to 9.15% valued currently at $47.44 million. In addition, Key Group Holdings (Cayman) Ltd. raised its holdings by 1.43 million to 3.87 million shares. And Adage Capital Management LP has lifted its position by 167.86% or 2.35 million shares – to 3.75 million shares.

    With over 0.8 million ProPetro Holding Corp. (PUMP) shares trading Friday and a closing price of $5.66 on the day, the dollar volume was approximately $4.54 million. The shares have shown a positive weekly performance of 6.99% and its price on 07/24/20 lost nearly -0.88%. Currently, there are 100.69M common shares owned by the public and among those 69.55M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for PUMP have a consensus price objective of $6.15. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $4.00 should the stock experience a downside. Incidentally, analysts’ outlook for the ProPetro Holding Corp. stock is 2.60 for the next 12 months. The average price target is 7.36% above its last price level and an upside to the estimated low will see the stock lose -41.5% over that period. But an upside of 43.4% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.

    Insiders at the company have transacted a total of 37 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 221,641 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 50,287 shares.

    The top 3 mutual fund holders in ProPetro Holding Corp. are iShares Core S&P Small Cap ETF, VanEck Vectors – Oil Services ETF, and Vanguard Total Stock Market Index. iShares Core S&P Small Cap ETF owns 5.09 million shares of the company’s stock, all valued at over $26.16 million. Vanguard Total Stock Market Index sold 37409.0 shares to bring its total holdings to over 2.46 million shares at a value of $12.64 million. Vanguard Total Stock Market Index now owns shares totaling to 2.44% of the shares outstanding.

    Shares of ProPetro Holding Corp. (NYSE: PUMP) opened at $5.65, down -$0.06 from a prior closing price of $5.71. However, the script later closed the day at $5.66, down -0.88%. The company’s stock has a 5-day price change of 6.99% and 53.80% over the past three months. PUMP shares are trading -49.69% year to date (YTD), with the 12-month market performance down to -66.49% lower. It has a 12-month low price of $1.36 and touched a high of $18.80 over the same period. Currently, 0.8 million shares have been traded, compared to an average intraday trading volume of 2.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 11.37%, 7.84%, and -19.08% respectively.

    Institutional ownership of ProPetro Holding Corp. (NYSE: PUMP) shares accounts for 79.20% of the company’s 100.69M shares outstanding. Mutual fund holders own 33.07%, while other institutional holders and individual stakeholders account for 43.60% and 21.58% respectively.

    It has a market capitalization of $567.81M and a beta (3y monthly) value of 3.30. The stock’s trailing 12-month PE ratio is 6.89, while the earnings-per-share (ttm) stands at $0.82. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.04% over the week and 7.74% over the month.

    Analysts forecast that ProPetro Holding Corp. (PUMP) will achieve an EPS of -$0.2 for the current quarter, -$0.28 for the next quarter and -$0.79 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.45 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was $0.43 a year ago. Earnings per share for the fiscal year are expected to decrease by -21.30%, and -23.40% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 22 brokerage firm advisors rate ProPetro Holding Corp. (PUMP) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 12 of the 22 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the PUMP, a number of firms have released research notes about the stock. Cowen stated their Outperform rating for the stock in a research note on July 15, 2020, with the firm’s price target at $8.50. Wolfe Research coverage for the ProPetro Holding Corp. (PUMP) stock in a research note released on March 19, 2020 offered a Peer Perform rating with a price target of . Barclays was of a view on March 19, 2020 that the stock is Equal Weight, while B. Riley FBR gave the stock Neutral rating on March 17, 2020, issuing a price target of $7.25. Piper Sandler on their part issued Neutral rating on March 13, 2020.

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