Sourcerock Group LLC Buys New Shares in ProPetro Holding Corp. (NYSE:PUMP)

Sourcerock Group LLC bought a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,508,979 shares of the company's stock, valued at approximately $14,079,000. ProPetro comprises 1.0% of Sourcerock Group LLC's investment portfolio, making the stock its 21st largest position. Sourcerock Group LLC owned approximately 1.47% of ProPetro as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Barclays PLC grew its position in ProPetro by 109.2% during the 3rd quarter. Barclays PLC now owns 242,057 shares of the company's stock valued at $1,855,000 after purchasing an additional 126,346 shares during the last quarter. New York State Common Retirement Fund grew its position in ProPetro by 46.9% during the 4th quarter. New York State Common Retirement Fund now owns 23,498 shares of the company's stock valued at $219,000 after purchasing an additional 7,502 shares during the last quarter. Principal Financial Group Inc. grew its position in ProPetro by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 384,768 shares of the company's stock valued at $3,590,000 after purchasing an additional 6,099 shares during the last quarter. SG Americas Securities LLC purchased a new stake in ProPetro during the 4th quarter valued at about $948,000. Finally, Franklin Resources Inc. raised its stake in shares of ProPetro by 5.8% in the third 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 last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PUMP has been the subject of several recent analyst reports. 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. Benchmark restated a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. Finally, Stifel Nicolaus decreased their price target on ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $10.50.

ProPetro Stock Performance

PUMP stock traded down $0.06 on Friday, hitting $5.56. The company had a trading volume of 1,678,596 shares, compared to its average volume of 1,573,827. ProPetro Holding Corp. has a 12-month low of $4.61 and a 12-month high of $11.17. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The stock's 50-day simple moving average is $5.85 and its 200 day simple moving average is $7.78. The stock has a market cap of $577.74 million, a price-to-earnings ratio of -4.15 and a beta of 1.19.

ProPetro (NYSE:PUMP - Get Free Report) last issued its earnings results 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 negative net margin of 9.55% and a positive return on equity of 3.20%. The company had revenue of $359.42 million for the quarter, compared to analysts' expectations of $344.36 million. During the same quarter last year, the company posted $0.18 earnings per share. The firm's quarterly revenue was down 11.4% on a year-over-year basis. As a group, equities research analysts expect that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal 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.