Wells Fargo & Company MN Grows Position in ProPetro Holding Corp. (NYSE:PUMP)

Wells Fargo & Company MN raised its stake in ProPetro Holding Corp. (NYSE:PUMP) by 82.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,870 shares of the company’s stock after purchasing an additional 34,831 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of ProPetro worth $717,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PUMP. GAMMA Investing LLC raised its holdings in shares of ProPetro by 38.0% in the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after purchasing an additional 1,225 shares during the period. Corient Private Wealth LLC increased its position in ProPetro by 8.7% during the 4th quarter. Corient Private Wealth LLC now owns 17,591 shares of the company’s stock worth $164,000 after purchasing an additional 1,405 shares in the last quarter. Ieq Capital LLC raised its holdings in ProPetro by 13.0% in the fourth quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock valued at $127,000 after buying an additional 1,564 shares during the period. Smartleaf Asset Management LLC grew its stake in ProPetro by 205.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after buying an additional 2,005 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of ProPetro by 5.8% in the third quarter. Franklin Resources Inc. now owns 61,979 shares of the company’s stock worth $513,000 after acquiring an additional 3,417 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Stock Performance

Shares of PUMP opened at $5.35 on Friday. The firm has a market cap of $554.73 million, a price-to-earnings ratio of -3.99 and a beta of 1.58. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $6.43 and its two-hundred day moving average is $7.99. ProPetro Holding Corp. has a 52-week low of $4.61 and a 52-week high of $11.17.

ProPetro (NYSE:PUMP) last released its earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $359.42 million during the quarter, compared to the consensus estimate of $344.36 million. ProPetro had a negative net margin of 9.55% and a positive return on equity of 3.20%. The company’s revenue was down 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.18 EPS. Analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PUMP. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Citigroup upped their target price on ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Stifel Nicolaus dropped their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Barclays lowered their price objective on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.50.

ProPetro Company Profile

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.