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

Sourcerock Group LLC purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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 biggest holding. Sourcerock Group LLC owned about 1.47% of ProPetro as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in ProPetro by 8.8% during the 4th quarter. American Century Companies Inc. now owns 3,236,135 shares of the company's stock worth $30,193,000 after buying an additional 262,202 shares in the last quarter. Van ECK Associates Corp increased its holdings in ProPetro by 57.3% during the 4th quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company's stock worth $14,253,000 after purchasing an additional 556,747 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in ProPetro by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,034,873 shares of the company's stock worth $9,655,000 after purchasing an additional 27,086 shares in the last quarter. Royce & Associates LP increased its holdings in ProPetro by 29.5% during the 4th quarter. Royce & Associates LP now owns 931,139 shares of the company's stock worth $8,688,000 after purchasing an additional 212,312 shares in the last quarter. Finally, Dana Investment Advisors Inc. grew its holdings in shares of ProPetro by 6.3% in the 4th quarter. Dana Investment Advisors Inc. now owns 796,775 shares of the company's stock valued at $7,434,000 after acquiring an additional 47,194 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Stock Performance

Shares of PUMP stock traded up $0.11 during trading on Thursday, reaching $5.61. 2,197,710 shares of the company's stock traded hands, compared to its average volume of 1,571,518. The company has a market capitalization of $582.83 million, a P/E ratio of -4.19 and a beta of 1.19. 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 firm's 50-day moving average is $5.88 and its 200 day moving average is $7.79. ProPetro Holding Corp. has a 1 year low of $4.61 and a 1 year high of $11.17.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PUMP. Benchmark reiterated a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. Stifel Nicolaus dropped their price target on shares of ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Barclays decreased their price objective on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating on the stock in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus 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.