Shell Asset Management Co. Sells 6,357 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Shell Asset Management Co. lessened its holdings in shares of ProPetro Holding Corp. (NYSE:PUMPGet Rating) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,965 shares of the company’s stock after selling 6,357 shares during the quarter. Shell Asset Management Co.’s holdings in ProPetro were worth $599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Public Sector Pension Investment Board increased its holdings in shares of ProPetro by 0.9% in the 4th quarter. Public Sector Pension Investment Board now owns 172,642 shares of the company’s stock worth $1,398,000 after buying an additional 1,550 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of ProPetro by 4.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 33,577 shares of the company’s stock worth $272,000 after purchasing an additional 1,560 shares during the period. Rhumbline Advisers lifted its position in ProPetro by 0.7% during the fourth quarter. Rhumbline Advisers now owns 257,375 shares of the company’s stock valued at $2,085,000 after acquiring an additional 1,845 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in ProPetro by 1.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 168,500 shares of the company’s stock valued at $1,771,000 after acquiring an additional 2,400 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in ProPetro by 22.3% during the fourth quarter. Teacher Retirement System of Texas now owns 14,918 shares of the company’s stock valued at $121,000 after acquiring an additional 2,718 shares during the last quarter. Hedge funds and other institutional investors own 86.35% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PUMP. JPMorgan Chase & Co. cut shares of ProPetro from an “overweight” rating to an “underweight” rating and decreased their target price for the company from $16.00 to $14.00 in a research report on Thursday, May 26th. Citigroup upped their price target on shares of ProPetro to $19.00 in a research note on Friday, June 3rd. Tudor Pickering upgraded shares of ProPetro from a “hold” rating to a “buy” rating in a research note on Thursday, May 5th. Piper Sandler raised their price target on shares of ProPetro from $15.50 to $16.75 and gave the company a “neutral” rating in a research report on Wednesday, June 1st. Finally, Tudor, Pickering, Holt & Co. upgraded shares of ProPetro from a “hold” rating to a “buy” rating in a research report on Thursday, May 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, ProPetro currently has an average rating of “Moderate Buy” and an average target price of $16.75.

ProPetro Trading Down 4.1 %

NYSE:PUMP opened at $10.09 on Tuesday. ProPetro Holding Corp. has a twelve month low of $6.39 and a twelve month high of $16.92. The company has a market cap of $1.05 billion, a P/E ratio of -45.86 and a beta of 2.45. The company’s 50-day moving average price is $10.94 and its 200-day moving average price is $12.27.

ProPetro (NYSE:PUMPGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The firm had revenue of $282.68 million during the quarter, compared to analysts’ expectations of $273.81 million. ProPetro had a negative net margin of 2.21% and a negative return on equity of 2.62%. The business’s quarterly revenue was up 75.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) earnings per share. On average, analysts expect that ProPetro Holding Corp. will post 0.96 earnings per share for the current year.

Insider Activity at ProPetro

In related news, CAO Elo Omavuezi sold 6,687 shares of ProPetro stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $13.23, for a total value of $88,469.01. Following the completion of the transaction, the chief accounting officer now owns 725 shares in the company, valued at $9,591.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Phillip A. Gobe sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $12.26, for a total transaction of $490,400.00. Following the completion of the sale, the director now owns 244,111 shares in the company, valued at approximately $2,992,800.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Elo Omavuezi sold 6,687 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $13.23, for a total transaction of $88,469.01. Following the sale, the chief accounting officer now owns 725 shares of the company’s stock, valued at approximately $9,591.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,464 shares of company stock worth $1,635,958. Corporate insiders own 0.90% of the company’s stock.

About ProPetro

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ProPetro Holding Corp., an oilfield services company, provides hydraulic fracturing and other related services. The company operates through Pressure Pumping and All Other segments. It offers cementing, acidizing, and coiled tubing services. The company serves oil and gas companies engaged in the exploration and production of North American oil and natural gas resources.

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Institutional Ownership by Quarter for ProPetro (NYSE:PUMP)

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