Northern Trust Corp Sells 265,759 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Northern Trust Corp decreased its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 921,293 shares of the company’s stock after selling 265,759 shares during the quarter. Northern Trust Corp owned about 0.90% of ProPetro worth $8,596,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PUMP. American Century Companies Inc. grew its position in shares of ProPetro by 8.8% during the 4th quarter. American Century Companies Inc. now owns 3,236,135 shares of the company’s stock worth $30,193,000 after buying an additional 262,202 shares during the period. Van ECK Associates Corp grew its position in shares of ProPetro by 57.3% during the 4th quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock worth $14,253,000 after buying an additional 556,747 shares during the period. Royce & Associates LP grew its position in shares of ProPetro by 29.5% during the 4th quarter. Royce & Associates LP now owns 931,139 shares of the company’s stock worth $8,688,000 after buying an additional 212,312 shares during the period. Dana Investment Advisors Inc. grew its position in shares of ProPetro by 6.3% during the 4th quarter. Dana Investment Advisors Inc. now owns 796,775 shares of the company’s stock worth $7,434,000 after buying an additional 47,194 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of ProPetro by 3.5% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 594,467 shares of the company’s stock worth $5,546,000 after buying an additional 20,100 shares during the period. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Down 0.7%

Shares of PUMP opened at $5.82 on Monday. The firm has a market cap of $604.76 million, a P/E ratio of -4.34 and a beta of 1.19. The stock has a 50 day simple moving average of $5.98 and a two-hundred day simple moving average of $7.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. ProPetro Holding Corp. has a 1 year low of $4.61 and a 1 year high of $11.17.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PUMP shares. Stifel Nicolaus reduced their price objective on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Barclays reduced their price target 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. Finally, Benchmark reissued a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.50.

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.