Principal Financial Group Inc. Sells 7,544 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Principal Financial Group Inc. lowered its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 1.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 579,786 shares of the company’s stock after selling 7,544 shares during the period. Principal Financial Group Inc. owned approximately 0.50% of ProPetro worth $4,169,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake in ProPetro by 3,715.3% during the 1st quarter. Tower Research Capital LLC TRC now owns 18,962 shares of the company’s stock valued at $136,000 after acquiring an additional 18,465 shares during the period. Boston Partners lifted its stake in shares of ProPetro by 42.8% in the 1st quarter. Boston Partners now owns 3,992,577 shares of the company’s stock worth $28,701,000 after purchasing an additional 1,196,513 shares during the period. GW&K Investment Management LLC lifted its stake in shares of ProPetro by 1.3% in the 1st quarter. GW&K Investment Management LLC now owns 2,155,623 shares of the company’s stock worth $15,499,000 after purchasing an additional 28,672 shares during the period. California State Teachers Retirement System lifted its stake in shares of ProPetro by 4.9% in the 1st quarter. California State Teachers Retirement System now owns 107,954 shares of the company’s stock worth $776,000 after purchasing an additional 5,049 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its stake in shares of ProPetro by 176.1% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 49,589 shares of the company’s stock worth $357,000 after purchasing an additional 31,628 shares during the period. Institutional investors own 78.54% of the company’s stock.

Insider Buying and Selling at ProPetro

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

ProPetro Price Performance

NYSE PUMP opened at $10.05 on Friday. ProPetro Holding Corp. has a 12 month low of $6.33 and a 12 month high of $12.58. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 12.41 and a beta of 2.42. The company’s 50 day moving average is $9.56 and its two-hundred day moving average is $8.34. The company has a current ratio of 1.26, a quick ratio of 1.19 and a debt-to-equity ratio of 0.06.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, August 2nd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $436.27 million. During the same quarter in the previous year, the business posted $0.29 EPS. ProPetro’s revenue was up 38.1% on a year-over-year basis. As a group, research analysts anticipate that ProPetro Holding Corp. will post 1.13 earnings per share for the current year.

Analyst Ratings Changes

PUMP has been the topic of several recent research reports. Barclays lowered their price objective on shares of ProPetro from $14.00 to $12.00 in a research note on Thursday, June 8th. TheStreet upgraded shares of ProPetro from a “c” rating to a “b-” rating in a research note on Wednesday, August 9th. Citigroup increased their price objective on shares of ProPetro from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 18th. 500.com reiterated a “maintains” rating on shares of ProPetro in a research note on Thursday, June 8th. Finally, Benchmark upgraded shares of ProPetro from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.67.

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.