Vanguard Group Inc. Sells 417,995 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Vanguard Group Inc. lowered its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,650,496 shares of the company's stock after selling 417,995 shares during the period. Vanguard Group Inc. owned approximately 10.57% of ProPetro worth $123,845,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in ProPetro by 6.4% in the third quarter. Wellington Management Group LLP now owns 700,366 shares of the company's stock worth $7,445,000 after acquiring an additional 42,383 shares in the last quarter. American Century Companies Inc. boosted its holdings in ProPetro by 13.3% in the third quarter. American Century Companies Inc. now owns 1,387,406 shares of the company's stock worth $14,748,000 after acquiring an additional 163,363 shares in the last quarter. Graham Capital Management L.P. bought a new position in ProPetro in the third quarter worth approximately $314,000. Comerica Bank bought a new position in ProPetro in the third quarter worth approximately $595,000. Finally, Tudor Investment Corp Et Al increased its holdings in ProPetro by 92.7% during the 3rd quarter. Tudor Investment Corp Et Al now owns 94,171 shares of the company's stock valued at $1,001,000 after purchasing an additional 45,311 shares during the period. Institutional investors and hedge funds own 84.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Benchmark downgraded ProPetro from a "buy" rating to a "hold" rating in a report on Tuesday, January 16th. TheStreet cut ProPetro from a "b-" rating to a "c+" rating in a research report on Monday, January 8th.

ProPetro Price Performance

PUMP stock traded up $0.57 during trading on Wednesday, reaching $8.54. The company's stock had a trading volume of 1,690,441 shares, compared to its average volume of 1,512,297. ProPetro Holding Corp. has a 1 year low of $6.33 and a 1 year high of $11.37. The company has a quick ratio of 1.08, a current ratio of 1.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $918.08 million, a P/E ratio of 11.31 and a beta of 2.13. The company's fifty day moving average is $7.80 and its 200-day moving average is $8.74.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.24). The business had revenue of $347.80 million during the quarter, compared to the consensus estimate of $351.50 million. ProPetro had a net margin of 5.25% and a return on equity of 10.26%. The firm's revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. On average, research analysts expect that ProPetro Holding Corp. will post 0.48 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.