Farther Finance Advisors LLC Has $116,000 Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

Farther Finance Advisors LLC cut its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 24.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,442 shares of the company’s stock after selling 5,000 shares during the quarter. Farther Finance Advisors LLC’s holdings in ProPetro were worth $116,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PUMP. Millennium Management LLC grew its stake in shares of ProPetro by 359.2% during the fourth quarter. Millennium Management LLC now owns 508,817 shares of the company’s stock worth $4,747,000 after buying an additional 398,021 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of ProPetro by 46.9% in the 4th quarter. New York State Common Retirement Fund now owns 23,498 shares of the company’s stock valued at $219,000 after acquiring an additional 7,502 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of ProPetro by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 384,768 shares of the company’s stock valued at $3,590,000 after acquiring an additional 6,099 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of ProPetro by 47.5% during the 4th quarter. Deutsche Bank AG now owns 81,611 shares of the company’s stock valued at $761,000 after acquiring an additional 26,299 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in ProPetro by 41.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 180,844 shares of the company’s stock worth $1,687,000 after acquiring an additional 53,085 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Stock Performance

NYSE PUMP opened at $6.56 on Friday. The company has a market capitalization of $681.13 million, a price-to-earnings ratio of -4.58 and a beta of 1.17. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 0.05. ProPetro Holding Corp. has a twelve month low of $4.61 and a twelve month high of $11.17. The stock has a fifty day simple moving average of $5.68 and a 200 day simple moving average of $7.49.

ProPetro (NYSE:PUMP) last issued 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. The company had revenue of $359.42 million during the quarter, compared to analysts’ expectations of $344.36 million. ProPetro had a positive return on equity of 2.16% and a negative net margin of 10.60%. The business’s quarterly revenue was down 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 earnings per share. Sell-side analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stifel Nicolaus lowered their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. lowered their price objective on ProPetro from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Finally, Barclays dropped their price objective on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.75.

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.