Cwm LLC Reduces Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Cwm LLC reduced its stake in ProPetro Holding Corp. (NYSE:PUMP) by 53.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,103 shares of the company’s stock after selling 4,674 shares during the period. Cwm LLC’s holdings in ProPetro were worth $30,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PUMP. Millennium Management LLC boosted its holdings 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 purchasing an additional 398,021 shares during the period. Principal Financial Group Inc. raised its position in ProPetro by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 395,202 shares of the company’s stock valued at $2,905,000 after purchasing an additional 10,434 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in ProPetro in the 1st quarter worth approximately $89,000. Deutsche Bank AG grew its position in shares of ProPetro by 47.5% in the 4th quarter. Deutsche Bank AG now owns 81,611 shares of the company’s stock worth $761,000 after buying an additional 26,299 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of ProPetro by 714.0% in the 1st quarter. GAMMA Investing LLC now owns 36,191 shares of the company’s stock worth $266,000 after buying an additional 31,745 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

ProPetro Trading Down 3.2%

NYSE PUMP opened at $4.91 on Tuesday. The firm has a market capitalization of $510.49 million, a PE ratio of -3.34 and a beta of 1.18. The stock’s 50 day moving average is $6.02 and its 200 day moving average is $6.72. ProPetro Holding Corp. has a twelve month low of $4.61 and a twelve month high of $11.17. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.07.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). The business had revenue of $326.15 million for the quarter, compared to analysts’ expectations of $331.26 million. ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. ProPetro’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. Research analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PUMP has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the company a “buy” rating in a report on Wednesday, July 16th. Piper Sandler started coverage on shares of ProPetro in a report on Monday, July 14th. They issued a “neutral” rating and a $7.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price 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. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.