Oppenheimer Asset Management Inc. Grows Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Oppenheimer Asset Management Inc. increased its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,762 shares of the company’s stock after buying an additional 2,376 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ProPetro were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new position in shares of ProPetro during the first quarter worth about $82,000. Credit Suisse AG boosted its holdings in ProPetro by 126.7% in the 1st quarter. Credit Suisse AG now owns 159,826 shares of the company’s stock valued at $1,149,000 after purchasing an additional 89,321 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in ProPetro in the 1st quarter valued at approximately $109,000. Jupiter Asset Management Ltd. purchased a new stake in ProPetro in the 1st quarter valued at approximately $1,391,000. Finally, Tower Research Capital LLC TRC boosted its holdings in ProPetro by 3,715.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 18,962 shares of the company’s stock valued at $136,000 after purchasing an additional 18,465 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $9.68 on Wednesday. The business’s 50 day simple moving average is $9.44 and its 200-day simple moving average is $8.33. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.94 and a beta of 2.42. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.26 and a quick ratio of 1.19. ProPetro Holding Corp. has a 12 month low of $6.33 and a 12 month high of $12.58.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.07). ProPetro had a return on equity of 16.81% and a net margin of 5.91%. The firm had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $436.27 million. During the same period last year, the firm earned $0.29 EPS. ProPetro’s revenue was up 38.1% compared to the same quarter last year. As a group, equities analysts forecast that ProPetro Holding Corp. will post 1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

PUMP has been the topic of a number of analyst reports. Stifel Nicolaus lowered their price objective on ProPetro from $17.00 to $16.00 in a report on Wednesday, July 12th. 500.com reaffirmed a “maintains” rating on shares of ProPetro in a report on Thursday, June 8th. Barclays lowered their price objective on ProPetro from $14.00 to $12.00 in a report on Thursday, June 8th. Benchmark raised ProPetro from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, TheStreet raised ProPetro from a “c” rating to a “b-” rating in a research note on Wednesday, August 9th. One investment analyst has rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.67.

Insider Buying and Selling

In other ProPetro news, CAO Elo Omavuezi sold 4,182 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $10.28, for a total value of $42,990.96. Following the completion of the transaction, the chief accounting officer now directly owns 6,903 shares in the company, valued at approximately $70,962.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ProPetro news, COO Adam Munoz sold 21,467 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $10.09, for a total value of $216,602.03. Following the completion of the transaction, the chief operating officer now directly owns 48,287 shares in the company, valued at approximately $487,215.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Elo Omavuezi sold 4,182 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $10.28, for a total value of $42,990.96. Following the completion of the transaction, the chief accounting officer now owns 6,903 shares of the company’s stock, valued at $70,962.84. The disclosure for this sale can be found here. Insiders sold 85,649 shares of company stock worth $874,543 in the last ninety days. Insiders own 0.88% of the company’s stock.

ProPetro Profile

ProPetro Holding Corp., an integrated oilfield services 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.