Adage Capital Partners GP L.L.C. Has $2.33 Million Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

Adage Capital Partners GP L.L.C. lowered its position in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 23.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 250,000 shares of the company's stock after selling 75,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.24% of ProPetro worth $2,332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PUMP. Smartleaf Asset Management LLC boosted its stake in ProPetro by 205.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock valued at $28,000 after buying an additional 2,005 shares in the last quarter. GAMMA Investing LLC increased its position in shares of ProPetro by 38.0% during the 4th quarter. GAMMA Investing LLC now owns 4,446 shares of the company's stock worth $41,000 after purchasing an additional 1,225 shares in the last quarter. KBC Group NV boosted its position in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company's stock valued at $75,000 after buying an additional 3,821 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of ProPetro during the fourth quarter worth approximately $94,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of ProPetro by 101.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company's stock valued at $98,000 after acquiring an additional 5,270 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on PUMP shares. Benchmark restated a "hold" rating on shares of ProPetro in a report on Thursday, February 20th. Stifel Nicolaus decreased their price target on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday. Citigroup upped their price objective on ProPetro from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Finally, 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 research report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $10.50.

ProPetro Price Performance

Shares of PUMP stock traded up $0.15 during trading on Friday, hitting $5.51. The company had a trading volume of 1,686,859 shares, compared to its average volume of 1,570,061. The firm has a market capitalization of $571.85 million, a P/E ratio of -4.11 and a beta of 1.58. ProPetro Holding Corp. has a one year low of $4.61 and a one year high of $11.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31. The stock's 50-day moving average price is $6.38 and its 200 day moving average price is $7.98.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The business had revenue of $359.42 million during 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%. The company's revenue was down 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 earnings per share. Equities analysts expect that ProPetro Holding Corp. will post 0.25 EPS 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.