Lighthouse Investment Partners LLC Purchases New Stake in ProPetro Holding Corp. (NYSE:PUMP)

Lighthouse Investment Partners LLC bought a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 200,000 shares of the company's stock, valued at approximately $1,866,000. Lighthouse Investment Partners LLC owned approximately 0.19% of ProPetro at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC grew its stake in shares of ProPetro by 109.2% in the third quarter. Barclays PLC now owns 242,057 shares of the company's stock valued at $1,855,000 after buying an additional 126,346 shares in the last quarter. New York State Common Retirement Fund boosted its position in ProPetro by 46.9% during the fourth quarter. New York State Common Retirement Fund now owns 23,498 shares of the company's stock worth $219,000 after purchasing an additional 7,502 shares during the period. Principal Financial Group Inc. boosted its position in ProPetro by 1.6% during the fourth quarter. Principal Financial Group Inc. now owns 384,768 shares of the company's stock worth $3,590,000 after purchasing an additional 6,099 shares during the period. SG Americas Securities LLC bought a new position in ProPetro during the fourth quarter worth $948,000. Finally, Franklin Resources Inc. boosted its position in ProPetro by 5.8% during the third quarter. Franklin Resources Inc. now owns 61,979 shares of the company's stock worth $513,000 after purchasing an additional 3,417 shares during the period. 84.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PUMP shares. Benchmark reaffirmed a "hold" rating on shares of ProPetro in a research report on Thursday, February 20th. Stifel Nicolaus reduced their price objective on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Barclays reduced their price objective on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, ProPetro presently has an average rating of "Hold" and a consensus price target of $10.50.

ProPetro Stock Performance

Shares of PUMP traded down $0.04 during midday trading on Friday, reaching $5.82. 1,358,810 shares of the stock were exchanged, compared to its average volume of 1,569,265. ProPetro Holding Corp. has a twelve month low of $4.61 and a twelve month high of $11.17. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The company has a market cap of $604.76 million, a P/E ratio of -4.34 and a beta of 1.19. The stock's 50 day simple moving average is $5.98 and its 200 day simple moving average is $7.83.

ProPetro (NYSE:PUMP - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. ProPetro had a positive return on equity of 3.20% and a negative net margin of 9.55%. The company had revenue of $359.42 million during the quarter, compared to the consensus estimate of $344.36 million. During the same quarter last year, the firm earned $0.18 earnings per share. The company's revenue was down 11.4% on a year-over-year basis. On average, sell-side analysts expect that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

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.