Brinker Capital Investments LLC Buys 15,647 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Brinker Capital Investments LLC lifted its stake in ProPetro Holding Corp. (NYSE:PUMP – Get Rating) by 31.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,506 shares of the company’s stock after buying an additional 15,647 shares during the period. Brinker Capital Investments LLC owned about 0.06% of ProPetro worth $527,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PUMP. FMR LLC lifted its stake in ProPetro by 69.1% during the second quarter. FMR LLC now owns 4,206,247 shares of the company’s stock worth $42,062,000 after purchasing an additional 1,718,775 shares during the period. Dimensional Fund Advisors LP lifted its stake in ProPetro by 16.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,002,856 shares of the company’s stock worth $69,691,000 after purchasing an additional 713,904 shares during the period. Voya Investment Management LLC lifted its stake in ProPetro by 560.8% during the second quarter. Voya Investment Management LLC now owns 733,982 shares of the company’s stock worth $7,339,000 after purchasing an additional 622,911 shares during the period. Invesco Ltd. lifted its stake in ProPetro by 94.7% during the first quarter. Invesco Ltd. now owns 1,209,464 shares of the company’s stock worth $16,847,000 after purchasing an additional 588,158 shares during the period. Finally, State Street Corp lifted its stake in ProPetro by 13.7% during the first quarter. State Street Corp now owns 3,903,560 shares of the company’s stock worth $54,377,000 after purchasing an additional 471,850 shares during the period. Institutional investors own 88.58% of the company’s stock.

ProPetro Price Performance

Shares of ProPetro stock opened at $9.28 on Wednesday. The firm has a market cap of $1.06 billion, a P/E ratio of -29.93 and a beta of 2.37. The firm has a 50 day simple moving average of $10.23 and a 200 day simple moving average of $9.79. ProPetro Holding Corp. has a fifty-two week low of $7.25 and a fifty-two week high of $16.92.

ProPetro (NYSE:PUMP – Get Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02. The business had revenue of $333.01 million during the quarter, compared to analyst estimates of $339.10 million. ProPetro had a negative net margin of 2.65% and a positive return on equity of 7.36%. On average, sell-side analysts expect that ProPetro Holding Corp. will post 1.23 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PUMP. Barclays raised shares of ProPetro from an “equal weight” rating to an “overweight” rating and set a $14.00 price objective for the company in a report on Tuesday, January 10th. Benchmark began coverage on shares of ProPetro in a report on Thursday, January 19th. They set a “hold” rating for the company. Finally, Citigroup lowered shares of ProPetro from a “buy” rating to a “neutral” rating and set a $12.00 price objective for the company. in a report on Tuesday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, ProPetro has an average rating of “Hold” and an average price target of $14.82.

About ProPetro

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ProPetro Holding Corp. is an oilfield services company that engages in the provision of hydraulic fracturing and other complementary services. It operates through the following segments: Hydraulic Fracturing, Cementing, Coil Tubing, Flowback, and Drilling. The Hydraulic Fracturing segment intends to optimize hydrocarbon flow paths during the completion phase of horizontal shale wellbores.