Adage Capital Partners GP L.L.C. Sells 75,000 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Adage Capital Partners GP L.L.C. trimmed its stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 250,000 shares of the company's stock after selling 75,000 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.24% of ProPetro worth $2,332,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PUMP. Benchmark reissued a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. Barclays decreased their price objective on ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. Citigroup increased their price target on ProPetro from $8.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, January 7th. Finally, Stifel Nicolaus cut their price objective on ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $10.50.

ProPetro Stock Performance

PUMP traded down $0.24 during trading hours on Monday, reaching $5.28. The company's stock had a trading volume of 295,383 shares, compared to its average volume of 1,752,798. 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 company's 50-day moving average is $6.38 and its 200-day moving average is $7.97. ProPetro Holding Corp. has a 52 week low of $4.61 and a 52 week high of $11.17. The firm has a market cap of $547.46 million, a PE ratio of -3.94 and a beta of 1.19.

ProPetro (NYSE:PUMP - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, topping 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%. ProPetro's revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, equities analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current 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.