Squarepoint Ops LLC Buys Shares of 216,955 ProPetro Holding Corp. (NYSE:PUMP)

Squarepoint Ops LLC bought a new position in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 216,955 shares of the company's stock, valued at approximately $2,024,000. Squarepoint Ops LLC owned approximately 0.21% of ProPetro at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PUMP. Barclays PLC grew its position in ProPetro by 109.2% in the third 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 last quarter. SG Americas Securities LLC bought a new stake in shares of ProPetro during the 4th quarter worth $948,000. KBC Group NV grew its holdings in shares of ProPetro by 90.5% in the 4th quarter. KBC Group NV now owns 8,045 shares of the company's stock worth $75,000 after acquiring an additional 3,821 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of ProPetro by 5.1% in the 4th quarter. Empowered Funds LLC now owns 554,873 shares of the company's stock worth $5,177,000 after acquiring an additional 27,086 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of ProPetro by 57.3% during the fourth 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 during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. 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 report on Wednesday, April 30th. Barclays decreased their target price on shares of ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. dropped their target price on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday. Finally, Benchmark restated a "hold" rating on shares of ProPetro in a research report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $9.75.

ProPetro Stock Down 2.5%

PUMP traded down $0.14 during trading on Friday, reaching $5.41. 943,156 shares of the stock traded hands, compared to its average volume of 1,569,061. The stock's 50-day simple moving average is $5.67 and its two-hundred day simple moving average is $7.70. 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 Holding Corp. has a fifty-two week low of $4.61 and a fifty-two week high of $11.17. The stock has a market cap of $562.15 million, a price-to-earnings ratio of -4.04 and a beta of 1.19.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. The business 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 firm's revenue was down 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 EPS. As a group, equities research analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current year.

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.