Nuveen Asset Management LLC Has $15.04 Million Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Nuveen Asset Management LLC cut its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 7.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,611,463 shares of the company’s stock after selling 131,811 shares during the period. Nuveen Asset Management LLC owned about 1.57% of ProPetro worth $15,035,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PUMP. Smartleaf Asset Management LLC lifted its position in shares of ProPetro by 205.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after purchasing an additional 2,005 shares during the period. KBC Group NV lifted its position in shares of ProPetro by 90.5% in the 4th quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after purchasing an additional 3,821 shares during the period. Raymond James Financial Inc. acquired a new position in shares of ProPetro in the 4th quarter worth approximately $94,000. Tower Research Capital LLC TRC lifted its position in shares of ProPetro by 101.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company’s stock worth $98,000 after purchasing an additional 5,270 shares during the period. Finally, Syon Capital LLC acquired a new position in shares of ProPetro in the 4th quarter worth approximately $108,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Benchmark restated a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Barclays dropped their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Finally, Stifel Nicolaus dropped their price target on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $10.50.

ProPetro Stock Performance

NYSE:PUMP opened at $5.56 on Monday. The company has a fifty day moving average of $5.85 and a 200-day moving average of $7.78. The firm has a market capitalization of $577.74 million, a P/E ratio of -4.15 and a beta of 1.19. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. ProPetro Holding Corp. has a twelve month low of $4.61 and a twelve month high of $11.17.

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

ProPetro 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.