ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its position in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 22.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 921,293 shares of the company's stock after selling 265,759 shares during the quarter. Northern Trust Corp owned 0.90% of ProPetro worth $8,596,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Barclays PLC raised its holdings in shares of ProPetro by 109.2% during the third quarter. Barclays PLC now owns 242,057 shares of the company's stock valued at $1,855,000 after acquiring an additional 126,346 shares in the last quarter. Franklin Resources Inc. grew its position in ProPetro by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 61,979 shares of the company's stock worth $513,000 after purchasing an additional 3,417 shares during the period. JPMorgan Chase & Co. increased its position in ProPetro by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 97,736 shares of the company's stock worth $749,000 after buying an additional 5,198 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of ProPetro by 4.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 169,591 shares of the company's stock valued at $1,582,000 after acquiring an additional 7,101 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of ProPetro during the fourth quarter valued at approximately $948,000. 84.70% of the stock is currently owned by institutional investors.

ProPetro Stock Down 4.1%

NYSE PUMP traded down $0.24 during midday trading on Wednesday, hitting $5.50. 1,612,620 shares of the company traded hands, compared to its average volume of 1,567,364. The company has a market cap of $570.99 million, a PE ratio of -4.10 and a beta of 1.19. The company's 50-day simple moving average is $5.90 and its 200-day simple moving average is $7.80. ProPetro Holding Corp. has a 52 week low of $4.61 and a 52 week high of $11.17. 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 (NYSE:PUMP - Get Free Report) last issued 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 firm had revenue of $359.42 million during the quarter, compared to analyst estimates of $344.36 million. ProPetro had a positive return on equity of 3.20% and a negative net margin of 9.55%. The business's revenue for the quarter was down 11.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.18 EPS. As a group, equities research analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

PUMP has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Barclays decreased their price target on ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a research note on Monday, March 3rd. Finally, Benchmark reiterated a "hold" rating on shares of ProPetro in a report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $10.50.

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.