UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 32,710 Shares of ProPetro Holding Corp. (NYSE:PUMP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in ProPetro Holding Corp. (NYSE:PUMP) by 16.7% in the 4th quarter, Holdings Channel reports. The firm owned 228,835 shares of the company’s stock after acquiring an additional 32,710 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in ProPetro were worth $2,135,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its holdings in shares of ProPetro by 205.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after purchasing an additional 2,005 shares in the last quarter. KBC Group NV grew its holdings in shares of ProPetro by 90.5% during the fourth quarter. KBC Group NV now owns 8,045 shares of the company’s stock worth $75,000 after purchasing an additional 3,821 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of ProPetro during the fourth quarter worth about $94,000. Tower Research Capital LLC TRC grew its holdings in shares of ProPetro by 101.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company’s stock worth $98,000 after purchasing an additional 5,270 shares in the last quarter. Finally, Syon Capital LLC purchased a new position in shares of ProPetro during the fourth quarter worth about $108,000. Institutional investors own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PUMP shares. Stifel Nicolaus cut their price objective on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. 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 report on Wednesday, May 28th. Benchmark reissued a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Finally, Barclays cut their price objective on ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.75.

ProPetro Stock Performance

NYSE:PUMP opened at $5.97 on Friday. The business has a 50 day moving average of $5.49 and a 200 day moving average of $7.63. The company has a market capitalization of $620.34 million, a price-to-earnings ratio of -4.46 and a beta of 1.17. ProPetro Holding Corp. has a 1-year low of $4.61 and a 1-year 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.

ProPetro (NYSE:PUMP) last released its earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The company had revenue of $359.42 million during the quarter, compared to the consensus estimate of $344.36 million. ProPetro had a positive return on equity of 3.20% and a negative net margin of 9.55%. ProPetro’s quarterly revenue was down 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. On average, sell-side analysts predict that ProPetro Holding Corp. will post 0.25 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.