Invesco Ltd. reduced its position in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 50.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 920,225 shares of the company's stock after selling 939,684 shares during the quarter. Invesco Ltd. owned about 0.89% of ProPetro worth $8,586,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new stake in shares of ProPetro in the third quarter worth approximately $197,000. Barclays PLC raised its stake in shares of 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 purchasing an additional 126,346 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of ProPetro by 5.8% in the third 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 in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of ProPetro by 209.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 272,374 shares of the company's stock valued at $2,115,000 after acquiring an additional 184,273 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of ProPetro by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 97,736 shares of the company's stock valued at $749,000 after acquiring an additional 5,198 shares in 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 recently issued reports on PUMP. Citigroup upped their target price on ProPetro from $8.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Benchmark reaffirmed a "hold" rating on shares of ProPetro in a report on Thursday, February 20th. Barclays decreased their target price on ProPetro from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Monday, March 3rd. Finally, Stifel Nicolaus upped their price target on ProPetro from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $10.75.
Read Our Latest Research Report on ProPetro
ProPetro Price Performance
PUMP traded up $0.62 during midday trading on Tuesday, hitting $5.89. The stock had a trading volume of 836,737 shares, compared to its average volume of 1,557,982. The company has a market cap of $611.08 million, a P/E ratio of -4.33 and a beta of 1.58. The business has a fifty day moving average of $6.66 and a 200 day moving average of $8.05. 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.
ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 earnings per share 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 business's revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 earnings per share. As a group, equities analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.
About ProPetro
(
Free Report)
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.
Further Reading
Before you consider ProPetro, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ProPetro wasn't on the list.
While ProPetro currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
