Bank of America Corp DE Raises Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Bank of America Corp DE grew its stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 107.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 470,406 shares of the company's stock after acquiring an additional 244,135 shares during the quarter. Bank of America Corp DE owned about 0.46% of ProPetro worth $4,389,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PUMP. Smartleaf Asset Management LLC boosted its position in ProPetro by 205.0% in the fourth 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 during 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 during the last quarter. Raymond James Financial Inc. purchased a new stake in ProPetro in the fourth quarter valued at approximately $94,000. Tower Research Capital LLC TRC boosted its position in 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 buying an additional 5,270 shares during the last quarter. Finally, Syon Capital LLC purchased a new stake in ProPetro in the fourth quarter valued at approximately $108,000. Institutional investors and hedge funds own 84.70% of the company's stock.

Wall Street Analysts Forecast Growth

PUMP has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Benchmark reiterated a "hold" rating on shares of ProPetro in a research report on Thursday, February 20th. Barclays lowered their price objective on ProPetro from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. Finally, Stifel Nicolaus lowered their price objective on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $9.75.

ProPetro Trading Up 0.5%

Shares of PUMP traded up $0.03 during mid-day trading on Monday, reaching $5.43. The stock had a trading volume of 1,063,498 shares, compared to its average volume of 1,563,433. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. ProPetro Holding Corp. has a 52-week low of $4.61 and a 52-week high of $11.17. The business's fifty day moving average is $5.63 and its 200 day moving average is $7.68. The firm has a market cap of $563.71 million, a price-to-earnings ratio of -4.05 and a beta of 1.19.

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