California State Teachers Retirement System Has $729,000 Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

California State Teachers Retirement System decreased its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,134 shares of the company’s stock after selling 3,072 shares during the quarter. California State Teachers Retirement System owned about 0.08% of ProPetro worth $729,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Sourcerock Group LLC bought a new position in ProPetro in the fourth quarter valued at about $14,079,000. Van ECK Associates Corp boosted its holdings in ProPetro by 57.3% in the fourth quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock worth $14,253,000 after acquiring an additional 556,747 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in ProPetro in the fourth quarter worth approximately $4,934,000. Millennium Management LLC boosted its position in shares of ProPetro by 359.2% during the fourth quarter. Millennium Management LLC now owns 508,817 shares of the company’s stock valued at $4,747,000 after buying an additional 398,021 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of ProPetro during the fourth quarter valued at approximately $2,937,000. 84.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PUMP has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on ProPetro from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. Stifel Nicolaus reduced their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Barclays dropped their price target on ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Finally, Benchmark reissued a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.75.

ProPetro Stock Up 4.0%

Shares of NYSE:PUMP opened at $6.43 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. ProPetro Holding Corp. has a 12 month low of $4.61 and a 12 month high of $11.17. The company has a 50-day moving average price of $5.49 and a 200 day moving average price of $7.59. The company has a market cap of $667.62 million, a price-to-earnings ratio of -4.79 and a beta of 1.17.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results 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. ProPetro had a negative net margin of 9.55% and a positive return on equity of 3.20%. The firm had revenue of $359.42 million during the quarter, compared to the consensus estimate of $344.36 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was down 11.4% on a year-over-year basis. As a group, equities research analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share 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.