Towle & Co. Sells 534,286 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Towle & Co. trimmed its holdings in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,292,289 shares of the company's stock after selling 534,286 shares during the period. ProPetro comprises approximately 3.7% of Towle & Co.'s holdings, making the stock its 3rd largest holding. Towle & Co. owned about 2.23% of ProPetro worth $21,387,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PUMP. Barclays PLC increased its holdings in shares of ProPetro by 109.2% in the 3rd 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 during the last quarter. New York State Common Retirement Fund increased its holdings in shares of ProPetro by 46.9% in the 4th quarter. New York State Common Retirement Fund now owns 23,498 shares of the company's stock valued at $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 valued at $3,590,000 after acquiring an additional 6,099 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of ProPetro in the 4th quarter valued at approximately $948,000. Finally, Franklin Resources Inc. increased its holdings in shares of ProPetro by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 61,979 shares of the company's stock valued at $513,000 after acquiring an additional 3,417 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Trading Down 0.7%

Shares of PUMP stock opened at $5.82 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31. ProPetro Holding Corp. has a 1 year low of $4.61 and a 1 year high of $11.17. The stock has a fifty day moving average of $5.98 and a two-hundred day moving average of $7.84. The firm has a market capitalization of $604.76 million, a PE ratio of -4.34 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, topping analysts' consensus estimates of $0.06 by $0.03. ProPetro had a positive return on equity of 3.20% and a negative net margin of 9.55%. The company had revenue of $359.42 million during the quarter, compared to analyst estimates of $344.36 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The firm's quarterly revenue was down 11.4% on a year-over-year basis. As a group, research analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Stifel Nicolaus lowered their price objective on ProPetro from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Barclays lowered their price objective 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 restated a "hold" rating on shares of ProPetro in a research note on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, ProPetro presently has an average rating of "Hold" and an average target price of $10.50.

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.

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