Bank of America Corp DE Has $4.39 Million Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

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

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC raised its holdings in ProPetro by 109.2% during the 3rd quarter. Barclays PLC now owns 242,057 shares of the company's stock worth $1,855,000 after buying an additional 126,346 shares during the period. SG Americas Securities LLC purchased a new position in shares of ProPetro in the fourth quarter worth approximately $948,000. KBC Group NV raised its holdings in shares of ProPetro by 90.5% during the fourth 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. Empowered Funds LLC raised its holdings in shares of ProPetro by 5.1% during the fourth quarter. Empowered Funds LLC now owns 554,873 shares of the company's stock valued at $5,177,000 after acquiring an additional 27,086 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of ProPetro by 57.3% in the 4th quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company's stock valued at $14,253,000 after acquiring an additional 556,747 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

ProPetro Stock Down 2.5%

Shares of NYSE:PUMP traded down $0.14 during trading on Friday, reaching $5.41. 943,156 shares of the company traded hands, compared to its average volume of 1,569,061. The firm has a fifty day simple moving average of $5.67 and a 200 day simple moving average of $7.70. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. ProPetro Holding Corp. has a 1-year low of $4.61 and a 1-year high of $11.17. The firm has a market cap of $562.15 million, a P/E ratio of -4.04 and a beta of 1.19.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $359.42 million during the quarter, compared to analyst estimates of $344.36 million. During the same period last year, the company earned $0.18 earnings per share. ProPetro's quarterly revenue was down 11.4% compared to the same quarter last year. Analysts anticipate that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PUMP. Benchmark reiterated a "hold" rating on shares of ProPetro in a research report on Thursday, February 20th. JPMorgan Chase & Co. lowered their price target on ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday. Stifel Nicolaus dropped their price target on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Barclays decreased their price objective on ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, ProPetro presently has an average rating of "Hold" and a consensus target price of $9.75.

About ProPetro

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.