BNP Paribas Financial Markets Raises Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

BNP Paribas Financial Markets grew its stake in ProPetro Holding Corp. (NYSE:PUMPFree Report) by 49.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,852 shares of the company’s stock after acquiring an additional 15,569 shares during the quarter. BNP Paribas Financial Markets’ holdings in ProPetro were worth $393,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PUMP. Barclays PLC lifted its position in ProPetro by 15.8% during the third quarter. Barclays PLC now owns 155,437 shares of the company’s stock worth $1,652,000 after buying an additional 21,160 shares during the period. New York State Common Retirement Fund lifted its position in ProPetro by 3.5% during the third quarter. New York State Common Retirement Fund now owns 74,983 shares of the company’s stock worth $797,000 after buying an additional 2,521 shares during the period. Oppenheimer & Co. Inc. purchased a new position in ProPetro during the third quarter worth about $366,000. Swiss National Bank lifted its position in ProPetro by 1.0% during the third quarter. Swiss National Bank now owns 190,000 shares of the company’s stock worth $2,020,000 after buying an additional 1,900 shares during the period. Finally, Invesco Ltd. lifted its position in ProPetro by 10.7% during the third quarter. Invesco Ltd. now owns 1,012,363 shares of the company’s stock worth $10,761,000 after buying an additional 97,871 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Adam Munoz sold 42,573 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $9.28, for a total value of $395,077.44. Following the completion of the sale, the chief operating officer now owns 58,134 shares in the company, valued at $539,483.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.97% of the company’s stock.

ProPetro Price Performance

PUMP stock opened at $9.21 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.12 and a current ratio of 1.18. ProPetro Holding Corp. has a 1 year low of $6.99 and a 1 year high of $11.37. The firm has a market cap of $990.46 million, a P/E ratio of 13.74 and a beta of 2.10. The stock has a 50-day simple moving average of $8.93 and a 200-day simple moving average of $8.41.

ProPetro (NYSE:PUMPGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The business had revenue of $405.84 million during the quarter, compared to analyst estimates of $393.11 million. During the same quarter last year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts predict that ProPetro Holding Corp. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PUMP shares. Barclays upped their price target on ProPetro from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Benchmark restated a “hold” rating on shares of ProPetro in a research note on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.33.

View Our Latest Analysis on PUMP

About ProPetro

(Free Report)

ProPetro Holding Corp. operates as an integrated oilfield services company. The 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.

See Also

Institutional Ownership by Quarter for ProPetro (NYSE:PUMP)

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