Sequoia Financial Advisors LLC Reduces Stake in ProPetro Holding Corp. (NYSE:PUMP)

Sequoia Financial Advisors LLC lessened its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 21.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,354 shares of the company’s stock after selling 2,895 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in ProPetro were worth $76,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PUMP. Smartleaf Asset Management LLC lifted its holdings 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 buying an additional 2,005 shares during the period. Raymond James Financial Inc. purchased a new position in ProPetro during the fourth quarter valued at approximately $94,000. Tower Research Capital LLC TRC lifted its holdings 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 acquiring an additional 5,270 shares during the period. Syon Capital LLC purchased a new stake in ProPetro in the 4th quarter worth approximately $108,000. Finally, Freestone Grove Partners LP acquired a new stake in shares of ProPetro during the 4th quarter worth approximately $112,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stifel Nicolaus decreased their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of ProPetro from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, May 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, ProPetro currently has an average rating of “Hold” and an average target price of $9.75.

ProPetro Trading Down 0.8%

Shares of PUMP stock opened at $6.31 on Friday. ProPetro Holding Corp. has a 1-year low of $4.61 and a 1-year high of $11.17. The company has a market cap of $655.67 million, a price-to-earnings ratio of -4.41 and a beta of 1.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.44 and a quick ratio of 1.39. The stock has a 50 day simple moving average of $5.86 and a 200-day simple moving average of $7.29.

ProPetro (NYSE:PUMP) last issued 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 negative net margin of 10.60% and a positive return on equity of 2.16%. The company had revenue of $359.42 million during the quarter, compared to analyst estimates of $344.36 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The firm’s revenue was down 11.4% compared to the same quarter last year. On average, equities research analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

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.