Federated Hermes Inc. Sells 4,189 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Federated Hermes Inc. cut its stake in ProPetro Holding Corp. (NYSE:PUMP) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,682 shares of the company’s stock after selling 4,189 shares during the period. Federated Hermes Inc.’s holdings in ProPetro were worth $207,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PUMP. SG Americas Securities LLC acquired a new position in ProPetro in the third quarter valued at approximately $145,000. Raymond James & Associates grew its holdings in ProPetro by 11.9% during the third quarter. Raymond James & Associates now owns 109,595 shares of the company’s stock worth $1,165,000 after buying an additional 11,686 shares in the last quarter. Bailard Inc. bought a new stake in ProPetro during the third quarter worth $267,000. New York State Teachers Retirement System grew its holdings in ProPetro by 7.6% during the third quarter. New York State Teachers Retirement System now owns 104,464 shares of the company’s stock worth $1,110,000 after buying an additional 7,343 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in ProPetro by 15.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,512 shares of the company’s stock worth $463,000 after buying an additional 5,861 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Stock Up 1.4 %

PUMP stock opened at $9.29 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.08 and a current ratio of 1.18. The company has a market capitalization of $999.33 million, a price-to-earnings ratio of 13.87 and a beta of 2.09. ProPetro Holding Corp. has a fifty-two week low of $6.33 and a fifty-two week high of $11.37. The stock has a fifty day moving average of $8.06 and a 200-day moving average of $8.48.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.10. The company had revenue of $405.84 million during the quarter, compared to the consensus estimate of $393.11 million. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 EPS. As a group, equities research analysts predict that ProPetro Holding Corp. will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

PUMP has been the subject of several recent research reports. Benchmark reiterated a “hold” rating on shares of ProPetro in a report on Thursday. TheStreet downgraded ProPetro from a “b-” rating to a “c+” rating in a research note on Monday, January 8th.

About ProPetro

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.