Ameriprise Financial Inc. Raises Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Ameriprise Financial Inc. grew its stake in ProPetro Holding Corp. (NYSE:PUMP) by 18.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,404 shares of the company’s stock after acquiring an additional 69,718 shares during the quarter. Ameriprise Financial Inc. owned about 0.44% of ProPetro worth $4,184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PUMP. Smartleaf Asset Management LLC increased its stake in ProPetro by 205.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock valued at $28,000 after purchasing an additional 2,005 shares during the last quarter. KBC Group NV increased its stake in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock valued at $75,000 after purchasing an additional 3,821 shares during the last quarter. Raymond James Financial Inc. acquired a new position in ProPetro in the fourth quarter valued at $94,000. Tower Research Capital LLC TRC increased its stake in ProPetro by 101.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company’s stock valued at $98,000 after purchasing an additional 5,270 shares during the last quarter. Finally, Syon Capital LLC acquired a new position in ProPetro in the fourth quarter valued at $108,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Stock Performance

Shares of NYSE:PUMP opened at $5.56 on Monday. The firm has a market capitalization of $577.74 million, a PE ratio of -4.15 and a beta of 1.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. The business has a 50-day moving average of $5.85 and a two-hundred day moving average of $7.78. ProPetro Holding Corp. has a 12 month low of $4.61 and a 12 month high of $11.17.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on PUMP. Barclays dropped their target price on ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Stifel Nicolaus dropped their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, ProPetro has a consensus rating of “Hold” and a consensus 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.