ProPetro Holding Corp. (NYSE:PUMP) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in ProPetro Holding Corp. (NYSE:PUMP) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 395,202 shares of the company’s stock after acquiring an additional 10,434 shares during the period. Principal Financial Group Inc. owned 0.38% of ProPetro worth $2,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PUMP. Teacher Retirement System of Texas acquired a new stake in shares of ProPetro during the first quarter worth about $89,000. Raymond James Financial Inc. acquired a new stake in shares of ProPetro during the fourth quarter worth about $94,000. Tower Research Capital LLC TRC lifted its position 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 purchasing an additional 5,270 shares during the period. Syon Capital LLC acquired a new stake in ProPetro in the fourth quarter valued at about $108,000. Finally, Freestone Grove Partners LP acquired a new stake in ProPetro in the fourth quarter valued at about $112,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Price Performance

PUMP stock opened at $5.67 on Friday. The firm has a 50 day moving average of $6.04 and a 200-day moving average of $7.11. ProPetro Holding Corp. has a 12-month low of $4.61 and a 12-month high of $11.17. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 0.05. The company has a market cap of $589.17 million, a price-to-earnings ratio of -3.97 and a beta of 1.18.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $344.36 million. During the same period last year, the firm earned $0.18 EPS. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. As a group, equities analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. reduced 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. Stifel Nicolaus set a $10.00 price objective on shares of ProPetro and gave the company a “buy” rating in a research report on Wednesday. Finally, Piper Sandler assumed coverage on shares of ProPetro in a research report on Monday. They issued a “neutral” rating and a $7.00 price objective for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.00.

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.