ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 12.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,120,143 shares of the company’s stock after selling 159,769 shares during the period. Van ECK Associates Corp owned about 1.04% of ProPetro worth $9,711,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PUMP. Quantbot Technologies LP purchased a new position in ProPetro in the first quarter worth approximately $551,000. Russell Investments Group Ltd. lifted its position in shares of ProPetro by 36.9% during the 1st quarter. Russell Investments Group Ltd. now owns 384,529 shares of the company’s stock worth $3,107,000 after purchasing an additional 103,644 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of ProPetro during the first quarter worth $960,000. SG Americas Securities LLC acquired a new position in shares of ProPetro during the second quarter worth $746,000. Finally, Dimensional Fund Advisors LP increased its holdings in ProPetro by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock valued at $61,120,000 after buying an additional 378,379 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at ProPetro

In other news, Director Michele Vion sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $8.26, for a total value of $41,300.00. Following the completion of the sale, the director now owns 34,006 shares in the company, valued at approximately $280,889.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

ProPetro Price Performance

PUMP stock opened at $7.94 on Tuesday. The business has a 50 day simple moving average of $8.41 and a 200-day simple moving average of $8.46. The company has a market capitalization of $854.34 million, a P/E ratio of 11.85 and a beta of 2.10. ProPetro Holding Corp. has a twelve month low of $6.99 and a twelve month high of $11.37. The company has a current ratio of 1.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.11). ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The company had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $361.85 million. During the same quarter last year, the business posted $0.34 earnings per share. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts anticipate that ProPetro Holding Corp. will post 0.24 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays upped their price objective on ProPetro from $12.00 to $13.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Stifel Nicolaus dropped their price target on shares of ProPetro from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

About ProPetro

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.