Bank of New York Mellon Corp Has $4.82 Million Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

Bank of New York Mellon Corp lifted its position in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 656,315 shares of the company's stock after buying an additional 100,858 shares during the quarter. Bank of New York Mellon Corp owned about 0.63% of ProPetro worth $4,824,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. MetLife Investment Management LLC boosted its position in ProPetro by 2.5% during the fourth quarter. MetLife Investment Management LLC now owns 52,933 shares of the company's stock worth $494,000 after purchasing an additional 1,270 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of ProPetro by 8.7% during the fourth quarter. Corient Private Wealth LLC now owns 17,591 shares of the company's stock worth $164,000 after buying an additional 1,405 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of ProPetro by 5.8% in the fourth quarter. Sterling Capital Management LLC now owns 46,415 shares of the company's stock valued at $433,000 after purchasing an additional 2,535 shares in the last quarter. Mariner LLC raised its stake in shares of ProPetro by 23.4% in the fourth quarter. Mariner LLC now owns 22,687 shares of the company's stock valued at $212,000 after purchasing an additional 4,304 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of ProPetro by 16.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,702 shares of the company's stock valued at $324,000 after purchasing an additional 4,996 shares in the last quarter. Institutional investors own 84.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Stifel Nicolaus set a $10.00 price target on ProPetro and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Piper Sandler started coverage on ProPetro in a report on Monday, July 14th. They set a "neutral" rating and a $7.00 target price on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, ProPetro presently has a consensus rating of "Hold" and an average target price of $9.00.

ProPetro Stock Down 1.9%

ProPetro stock traded down $0.11 during midday trading on Friday, reaching $5.99. The stock had a trading volume of 2,164,505 shares, compared to its average volume of 1,628,792. The firm's fifty day simple moving average is $6.03 and its 200-day simple moving average is $7.00. ProPetro Holding Corp. has a 1-year low of $4.61 and a 1-year high of $11.17. The stock has a market capitalization of $622.11 million, a P/E ratio of -4.19 and a beta of 1.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.39 and a current ratio of 1.44.

ProPetro (NYSE:PUMP - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. ProPetro had a positive return on equity of 2.16% and a negative net margin of 10.60%. The business had revenue of $359.42 million for the quarter, compared to analyst estimates of $344.36 million. During the same quarter last year, the firm earned $0.18 EPS. ProPetro's revenue for the quarter was down 11.4% compared to the same quarter last year. As a group, analysts expect 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.