ProPetro Holding Corp. $PUMP Shares Sold by Swiss National Bank

Swiss National Bank cut its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,600 shares of the company’s stock after selling 4,300 shares during the quarter. Swiss National Bank owned about 0.15% of ProPetro worth $1,173,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PUMP. Wells Fargo & Company MN boosted its position in shares of ProPetro by 82.9% in the fourth quarter. Wells Fargo & Company MN now owns 76,870 shares of the company’s stock worth $717,000 after buying an additional 34,831 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of ProPetro in the fourth quarter worth about $94,000. Mariner LLC boosted its position in shares of ProPetro by 23.4% in the fourth quarter. Mariner LLC now owns 22,687 shares of the company’s stock worth $212,000 after buying an additional 4,304 shares during the period. Marshall Wace LLP purchased a new stake in shares of ProPetro in the fourth quarter worth about $502,000. Finally, MetLife Investment Management LLC boosted its position in shares of ProPetro by 2.5% in the fourth quarter. MetLife Investment Management LLC now owns 52,933 shares of the company’s stock worth $494,000 after buying an additional 1,270 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PUMP. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Piper Sandler decreased their target price on ProPetro from $7.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th. Finally, 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. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ProPetro has a consensus rating of “Hold” and a consensus price target of $8.80.

ProPetro Trading Up 0.7%

Shares of PUMP opened at $4.9550 on Tuesday. The company has a market capitalization of $515.17 million, a P/E ratio of -3.37 and a beta of 1.18. ProPetro Holding Corp. has a one year low of $4.51 and a one year high of $11.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42. The stock has a 50-day moving average price of $5.70 and a 200 day moving average price of $6.21.

ProPetro (NYSE:PUMP) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.10). The business had revenue of $326.15 million during 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%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS. Sell-side analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal 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.