Amalgamated Bank Sells 3,263 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Amalgamated Bank reduced its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 9.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,351 shares of the company’s stock after selling 3,263 shares during the period. Amalgamated Bank’s holdings in ProPetro were worth $263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PUMP. Signaturefd LLC boosted its holdings in shares of ProPetro by 47.1% in the 4th quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock valued at $66,000 after acquiring an additional 2,542 shares during the last quarter. Versor Investments LP acquired a new stake in ProPetro during the third quarter worth about $129,000. AXQ Capital LP acquired a new position in ProPetro in the third quarter valued at approximately $132,000. Third Point LLC purchased a new stake in ProPetro in the 3rd quarter worth approximately $159,000. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in shares of ProPetro during the 3rd quarter worth approximately $202,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PUMP. Benchmark restated a “hold” rating on shares of ProPetro in a research report on Thursday, May 2nd. Barclays lifted their price target on ProPetro from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.33.

Insider Buying and Selling

In other news, COO Adam Munoz sold 42,573 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total value of $395,077.44. Following the completion of the sale, the chief operating officer now owns 58,134 shares of the company’s stock, valued at approximately $539,483.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.88% of the stock is owned by company insiders.

ProPetro Price Performance

NYSE:PUMP opened at $9.91 on Wednesday. The stock has a 50 day moving average of $8.60 and a two-hundred day moving average of $8.40. ProPetro Holding Corp. has a 12 month low of $6.62 and a 12 month high of $11.37. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.07 billion, a P/E ratio of 14.79 and a beta of 2.09.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.10. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. The company had revenue of $405.84 million during the quarter, compared to analysts’ expectations of $393.11 million. During the same quarter in the prior year, the company earned $0.40 EPS. ProPetro’s revenue was down 4.2% compared to the same quarter last year. On average, analysts expect that ProPetro Holding Corp. will post 0.67 earnings per share for the current fiscal year.

ProPetro Company 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.