Rhumbline Advisers Reduces Position in ProPetro Holding Corp. (NYSE:PUMP)

Rhumbline Advisers decreased its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 4.9% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 300,808 shares of the company’s stock after selling 15,429 shares during the period. Rhumbline Advisers’ holdings in ProPetro were worth $2,608,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in shares of ProPetro in the 1st quarter worth approximately $551,000. Russell Investments Group Ltd. boosted its position in shares of ProPetro by 36.9% during the first quarter. Russell Investments Group Ltd. now owns 384,529 shares of the company’s stock valued at $3,107,000 after purchasing an additional 103,644 shares in the last quarter. Jennison Associates LLC purchased a new stake in ProPetro in the first quarter worth $960,000. SG Americas Securities LLC purchased a new position in ProPetro during the 2nd quarter valued at about $746,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of ProPetro by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock worth $61,120,000 after buying an additional 378,379 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus cut their price target on shares of ProPetro from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.00.

ProPetro Trading Up 0.4 %

Shares of NYSE:PUMP opened at $8.04 on Thursday. The stock’s 50-day simple moving average is $8.18 and its two-hundred day simple moving average is $8.44. The stock has a market capitalization of $837.45 million, a price-to-earnings ratio of 12.00 and a beta of 2.02. ProPetro Holding Corp. has a 52-week low of $6.74 and a 52-week high of $11.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.11.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.11). ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The company had revenue of $357.00 million for the quarter, compared to the consensus estimate of $361.85 million. During the same period in the prior year, the firm posted $0.34 EPS. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. Analysts expect that ProPetro Holding Corp. will post 0.24 EPS for the current year.

Insider Buying and Selling at ProPetro

In other ProPetro news, Director Michele Vion sold 5,000 shares of ProPetro stock in a transaction on Monday, August 26th. The shares were sold at an average price of $8.26, for a total value of $41,300.00. Following the sale, the director now directly owns 34,006 shares in the company, valued at approximately $280,889.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

ProPetro 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.