Yousif Capital Management LLC reduced its stake in ProPetro Holding Corp. (NYSE:PUMP – Free Report) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,482 shares of the company’s stock after selling 2,934 shares during the period. Yousif Capital Management LLC’s holdings in ProPetro were worth $424,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in PUMP. Louisiana State Employees Retirement System increased its stake in ProPetro by 13.1% in the second quarter. Louisiana State Employees Retirement System now owns 50,800 shares of the company’s stock valued at $419,000 after purchasing an additional 5,900 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of ProPetro by 4.4% in the 1st quarter. Victory Capital Management Inc. now owns 95,161 shares of the company’s stock valued at $684,000 after buying an additional 3,969 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in ProPetro by 176.1% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 49,589 shares of the company’s stock worth $357,000 after buying an additional 31,628 shares during the period. Tectonic Advisors LLC lifted its holdings in ProPetro by 7.6% during the second quarter. Tectonic Advisors LLC now owns 93,790 shares of the company’s stock worth $773,000 after acquiring an additional 6,617 shares in the last quarter. Finally, Sagefield Capital LP grew its stake in ProPetro by 7.5% in the first quarter. Sagefield Capital LP now owns 583,362 shares of the company’s stock valued at $4,194,000 after acquiring an additional 40,903 shares during the period. 78.54% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
PUMP has been the topic of several recent analyst reports. Citigroup lifted their price objective on ProPetro from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. TheStreet raised shares of ProPetro from a “c” rating to a “b-” rating in a research note on Wednesday, August 9th. Finally, Benchmark raised shares of ProPetro from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, ProPetro has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.
Insiders Place Their Bets
In other news, CAO Elo Omavuezi sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $10.05, for a total value of $50,250.00. Following the completion of the transaction, the chief accounting officer now owns 1,903 shares in the company, valued at approximately $19,125.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Phillip A. Gobe sold 20,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $10.01, for a total value of $200,200.00. Following the completion of the sale, the director now owns 203,629 shares of the company’s stock, valued at approximately $2,038,326.29. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Elo Omavuezi sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $10.05, for a total transaction of $50,250.00. Following the transaction, the chief accounting officer now owns 1,903 shares in the company, valued at $19,125.15. The disclosure for this sale can be found here. Insiders have sold 74,426 shares of company stock valued at $779,134 in the last three months. 0.88% of the stock is currently owned by corporate insiders.
ProPetro Stock Down 0.5 %
NYSE:PUMP opened at $9.08 on Friday. The company has a market cap of $1.00 billion, a PE ratio of 8.90 and a beta of 2.47. The stock has a 50-day simple moving average of $10.20 and a 200 day simple moving average of $9.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.28. ProPetro Holding Corp. has a 52-week low of $6.33 and a 52-week high of $12.58.
ProPetro (NYSE:PUMP – Get Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.02. The company had revenue of $423.80 million during the quarter, compared to analysts’ expectations of $405.46 million. ProPetro had a net margin of 7.10% and a return on equity of 15.56%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the business earned $0.38 EPS. On average, sell-side analysts expect that ProPetro Holding Corp. will post 1.11 EPS for the current fiscal year.
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.
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