ProPetro Holding Corp. (NYSE:PUMP) Stake Trimmed by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. reduced its position in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 404,770 shares of the company's stock after selling 53,655 shares during the period. Stanley Laman Group Ltd. owned about 0.39% of ProPetro worth $2,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC boosted 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 period. Millennium Management LLC boosted its holdings in shares of ProPetro by 359.2% during the fourth quarter. Millennium Management LLC now owns 508,817 shares of the company's stock valued at $4,747,000 after acquiring an additional 398,021 shares during the period. New York State Common Retirement Fund grew its position in shares of ProPetro by 46.9% during the fourth quarter. New York State Common Retirement Fund now owns 23,498 shares of the company's stock worth $219,000 after acquiring an additional 7,502 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of ProPetro by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 384,768 shares of the company's stock worth $3,590,000 after acquiring an additional 6,099 shares during the period. Finally, Deutsche Bank AG lifted its position in ProPetro by 47.5% in the 4th quarter. Deutsche Bank AG now owns 81,611 shares of the company's stock valued at $761,000 after purchasing an additional 26,299 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on PUMP. 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 research report on Monday, March 3rd. Stifel Nicolaus lowered their target price on ProPetro from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price target on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, Benchmark reissued a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, ProPetro has an average rating of "Hold" and a consensus price target of $9.75.

ProPetro Price Performance

Shares of PUMP traded down $0.01 during midday trading on Monday, reaching $6.45. The stock had a trading volume of 1,447,854 shares, compared to its average volume of 1,675,210. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.31 and a quick ratio of 1.14. The company has a market capitalization of $669.70 million, a P/E ratio of -4.81 and a beta of 1.17. The firm's 50 day moving average price is $5.54 and its 200-day moving average price is $7.54. ProPetro Holding Corp. has a 52 week low of $4.61 and a 52 week high of $11.17.

ProPetro (NYSE:PUMP - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The business had revenue of $359.42 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. On average, analysts forecast 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.