Bank of New York Mellon Corp Raises Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Bank of New York Mellon Corp lifted its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 3.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 824,888 shares of the company’s stock after buying an additional 30,578 shares during the period. Bank of New York Mellon Corp owned about 0.72% of ProPetro worth $6,797,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of ProPetro by 8.8% in the 3rd quarter. BlackRock Inc. now owns 17,847,360 shares of the company’s stock worth $143,672,000 after acquiring an additional 1,445,598 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of ProPetro by 25.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,750,490 shares of the company’s stock worth $48,536,000 after acquiring an additional 1,381,397 shares during the period. Boston Partners grew its holdings 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 acquiring an additional 1,196,513 shares during the period. Invesco Ltd. grew its holdings in shares of ProPetro by 94.7% in the 1st quarter. Invesco Ltd. now owns 1,209,464 shares of the company’s stock worth $16,847,000 after acquiring an additional 588,158 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of ProPetro in the 1st quarter worth approximately $3,839,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $9.34 on Tuesday. The business’s fifty day moving average price is $10.10 and its two-hundred day moving average price is $9.21. The stock has a market cap of $1.03 billion, a PE ratio of 9.16 and a beta of 2.47. 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 one year low of $6.33 and a one year high of $11.39.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, November 1st. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $423.80 million for the quarter, compared to analysts’ expectations of $405.46 million. ProPetro had a return on equity of 15.56% and a net margin of 7.10%. ProPetro’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. On average, analysts forecast that ProPetro Holding Corp. will post 1.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PUMP shares. Citigroup upped their price target on ProPetro from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. TheStreet upgraded ProPetro from a “c” rating to a “b-” rating in a report on Wednesday, August 9th. One analyst has rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, ProPetro has an average rating of “Moderate Buy” and an average price target of $13.00.

Insider Buying and Selling at ProPetro

In other ProPetro news, Director Phillip A. Gobe sold 20,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $10.01, for a total transaction of $200,200.00. Following the transaction, the director now owns 203,629 shares of the company’s stock, valued at approximately $2,038,326.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ProPetro news, Director Phillip A. Gobe sold 15,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $10.50, for a total transaction of $157,500.00. Following the transaction, the director now owns 188,629 shares of the company’s stock, valued at approximately $1,980,604.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Phillip A. Gobe sold 20,000 shares of the stock in a transaction 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 transaction, the director now directly owns 203,629 shares in the company, valued at approximately $2,038,326.29. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,426 shares of company stock worth $728,884. 0.88% of the stock is owned by insiders.

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.