528,846 Shares in ProPetro Holding Corp. (NYSE:PUMP) Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 528,846 shares of the company's stock, valued at approximately $4,934,000. Balyasny Asset Management L.P. owned approximately 0.51% of ProPetro at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in shares of ProPetro by 8.8% during the 4th quarter. American Century Companies Inc. now owns 3,236,135 shares of the company's stock worth $30,193,000 after acquiring an additional 262,202 shares in the last quarter. Van ECK Associates Corp grew its holdings in ProPetro by 57.3% in the fourth quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company's stock valued at $14,253,000 after purchasing an additional 556,747 shares during the last quarter. Royce & Associates LP grew its holdings in ProPetro by 29.5% in the fourth quarter. Royce & Associates LP now owns 931,139 shares of the company's stock valued at $8,688,000 after purchasing an additional 212,312 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in shares of ProPetro by 6.3% during the 4th quarter. Dana Investment Advisors Inc. now owns 796,775 shares of the company's stock worth $7,434,000 after buying an additional 47,194 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in shares of ProPetro by 3.5% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 594,467 shares of the company's stock worth $5,546,000 after buying an additional 20,100 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

ProPetro Stock Up 1.7 %

Shares of NYSE:PUMP opened at $5.44 on Friday. ProPetro Holding Corp. has a 12-month low of $4.61 and a 12-month high of $11.17. The stock's 50-day moving average price is $6.10 and its two-hundred day moving average price is $7.89. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The firm has a market cap of $565.27 million, a price-to-earnings ratio of -4.06 and a beta of 1.19.

ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly 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. The company had revenue of $359.42 million for the quarter, compared to the consensus estimate of $344.36 million. ProPetro had a negative net margin of 9.55% and a positive return on equity of 3.20%. ProPetro's revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. On average, research analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays reduced their price target on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus lowered their target price on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Benchmark restated a "hold" rating on shares of ProPetro in a research report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, ProPetro has an average rating of "Hold" and an average target price of $10.50.

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.

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