Voloridge Investment Management LLC Acquires Shares of 57,140 ProPetro Holding Corp. (NYSE:PUMP)

Voloridge Investment Management LLC purchased a new position in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 57,140 shares of the company's stock, valued at approximately $533,000. Voloridge Investment Management LLC owned 0.06% of ProPetro at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PUMP. MetLife Investment Management LLC grew its stake in ProPetro by 2.5% in the fourth quarter. MetLife Investment Management LLC now owns 52,933 shares of the company's stock valued at $494,000 after purchasing an additional 1,270 shares in the last quarter. Corient Private Wealth LLC grew its stake in ProPetro by 8.7% in the fourth quarter. Corient Private Wealth LLC now owns 17,591 shares of the company's stock valued at $164,000 after purchasing an additional 1,405 shares in the last quarter. Ieq Capital LLC grew its stake in ProPetro by 13.0% in the fourth quarter. Ieq Capital LLC now owns 13,604 shares of the company's stock valued at $127,000 after purchasing an additional 1,564 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in ProPetro by 205.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company's stock valued at $28,000 after purchasing an additional 2,005 shares in the last quarter. Finally, Sterling Capital Management LLC grew its stake in ProPetro by 5.8% in the fourth quarter. Sterling Capital Management LLC now owns 46,415 shares of the company's stock valued at $433,000 after purchasing an additional 2,535 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PUMP. 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. Barclays cut their price objective on ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Benchmark reaffirmed a "hold" rating on shares of ProPetro in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their price objective on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $9.75.

ProPetro Price Performance

PUMP stock traded up $0.49 during midday trading on Tuesday, reaching $5.91. 1,891,921 shares of the stock were exchanged, compared to its average volume of 1,563,859. The stock has a market capitalization of $614.11 million, a PE ratio of -4.41 and a beta of 1.19. ProPetro Holding Corp. has a 52 week low of $4.61 and a 52 week high of $11.17. 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 fifty day moving average price of $5.59 and a 200 day moving average price of $7.67.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, beating 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 firm had revenue of $359.42 million for the quarter, compared to analyst estimates of $344.36 million. During the same quarter in the previous year, the company posted $0.18 EPS. The business's revenue was down 11.4% on a year-over-year basis. As a group, analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal 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.