Millennium Management LLC Grows Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Millennium Management LLC grew its stake in ProPetro Holding Corp. (NYSE:PUMP) by 359.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 508,817 shares of the company’s stock after acquiring an additional 398,021 shares during the period. Millennium Management LLC owned about 0.49% of ProPetro worth $4,747,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PUMP. Smartleaf Asset Management LLC raised its stake 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 valued at $28,000 after acquiring an additional 2,005 shares during the period. KBC Group NV increased its stake in ProPetro by 90.5% during the 4th quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after buying an additional 3,821 shares during the period. Raymond James Financial Inc. purchased a new stake in ProPetro during the 4th quarter worth approximately $94,000. Tower Research Capital LLC TRC increased its stake in ProPetro by 101.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company’s stock worth $98,000 after buying an additional 5,270 shares during the period. Finally, Syon Capital LLC purchased a new stake in ProPetro during the 4th quarter worth approximately $108,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Trading Down 3.6%

Shares of NYSE:PUMP opened at $5.46 on Thursday. ProPetro Holding Corp. has a 52 week low of $4.61 and a 52 week high of $11.17. The company’s 50 day moving average is $5.75 and its two-hundred day moving average is $7.73. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The company has a market cap of $566.83 million, a PE ratio of -4.07 and a beta of 1.19.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PUMP shares. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Barclays cut their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Monday, March 3rd. Stifel Nicolaus cut their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.75.

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.