Tower Research Capital LLC TRC Buys 5,270 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Tower Research Capital LLC TRC increased its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 101.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,452 shares of the company’s stock after purchasing an additional 5,270 shares during the quarter. Tower Research Capital LLC TRC’s holdings in ProPetro were worth $98,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Smartleaf Asset Management LLC lifted its position in ProPetro by 205.0% during the 4th 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 during the period. GAMMA Investing LLC raised its stake in shares of ProPetro by 38.0% during the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after buying an additional 1,225 shares during the last quarter. KBC Group NV lifted its holdings in ProPetro by 90.5% in the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock valued at $75,000 after buying an additional 3,821 shares during the period. Raymond James Financial Inc. bought a new position in ProPetro in the fourth quarter valued at approximately $94,000. Finally, Ieq Capital LLC grew its holdings in ProPetro by 13.0% during the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock worth $127,000 after acquiring an additional 1,564 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Price Performance

PUMP opened at $5.44 on Friday. The company has a fifty day simple moving average of $6.10 and a 200 day simple moving average of $7.89. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06. The stock has a market cap of $564.58 million, a P/E ratio of -4.06 and a beta of 1.19. ProPetro Holding Corp. has a 12 month low of $4.61 and a 12 month high of $11.17.

ProPetro (NYSE:PUMP) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $344.36 million. During the same period in the prior year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. On average, research analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PUMP shares. Barclays reduced their price target on ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Benchmark restated a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Finally, Stifel Nicolaus lowered 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.