Park Avenue Securities LLC Purchases Shares of 10,669 ProPetro Holding Corp. (NYSE:PUMP)

Park Avenue Securities LLC purchased a new stake in ProPetro Holding Corp. (NYSE:PUMPGet Rating) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,669 shares of the company’s stock, valued at approximately $86,000.

Several other institutional investors have also recently added to or reduced their stakes in PUMP. Chilton Capital Management LLC acquired a new position in ProPetro in the second quarter valued at approximately $46,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of ProPetro during the second quarter valued at approximately $63,000. US Bancorp DE increased its holdings in shares of ProPetro by 25.1% during the second quarter. US Bancorp DE now owns 6,310 shares of the company’s stock valued at $63,000 after acquiring an additional 1,268 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of ProPetro by 18.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,365 shares of the company’s stock valued at $67,000 after acquiring an additional 1,296 shares in the last quarter. Finally, KBC Group NV bought a new stake in shares of ProPetro during the second quarter valued at approximately $74,000. 88.58% of the stock is owned by institutional investors and hedge funds.

ProPetro Trading Down 1.3 %

PUMP stock opened at $9.28 on Wednesday. The stock’s fifty day simple moving average is $10.23 and its two-hundred day simple moving average is $9.79. ProPetro Holding Corp. has a 1-year low of $7.25 and a 1-year high of $16.92. The stock has a market cap of $1.06 billion, a P/E ratio of -29.93 and a beta of 2.37.

ProPetro (NYSE:PUMPGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.02. ProPetro had a positive return on equity of 7.36% and a negative net margin of 2.65%. The business had revenue of $333.01 million for the quarter, compared to analysts’ expectations of $339.10 million. As a group, analysts forecast that ProPetro Holding Corp. will post 1.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PUMP has been the subject of several recent research reports. Benchmark initiated coverage on ProPetro in a report on Thursday, January 19th. They set a “hold” rating for the company. Barclays upgraded 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. Finally, Citigroup downgraded 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 analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, ProPetro presently has an average rating of “Hold” and an average price target of $14.82.

ProPetro Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for ProPetro (NYSE:PUMP)

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