Martingale Asset Management L P Sells 17,725 Shares of ProPetro Holding Corp. $PUMP

Martingale Asset Management L P cut its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 40.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,021 shares of the company’s stock after selling 17,725 shares during the period. Martingale Asset Management L P’s holdings in ProPetro were worth $191,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PUMP. Hsbc Holdings PLC lifted its position in ProPetro by 3.5% during the first quarter. Hsbc Holdings PLC now owns 49,858 shares of the company’s stock valued at $371,000 after acquiring an additional 1,675 shares during the last quarter. Quantbot Technologies LP lifted its position in ProPetro by 466.1% during the first quarter. Quantbot Technologies LP now owns 151,280 shares of the company’s stock valued at $1,112,000 after acquiring an additional 124,559 shares during the last quarter. Algert Global LLC purchased a new stake in ProPetro during the first quarter valued at approximately $504,000. American Century Companies Inc. lifted its position in ProPetro by 6.6% during the first quarter. American Century Companies Inc. now owns 3,449,060 shares of the company’s stock valued at $25,351,000 after acquiring an additional 212,925 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in ProPetro by 27.2% during the first quarter. Public Sector Pension Investment Board now owns 251,312 shares of the company’s stock valued at $1,847,000 after acquiring an additional 53,817 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

ProPetro Trading Down 2.3%

Shares of ProPetro stock opened at $4.85 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35. The firm has a fifty day moving average price of $5.66 and a 200 day moving average price of $6.20. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $11.17. The stock has a market cap of $503.73 million, a PE ratio of -3.30 and a beta of 1.18.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.The business had revenue of $326.15 million for the quarter, compared to analysts’ expectations of $331.26 million. During the same period last year, the business earned ($0.03) EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. Equities research analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PUMP. Piper Sandler decreased their price target on shares of ProPetro from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Stifel Nicolaus set a $10.00 price target on shares of ProPetro and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. decreased their price target on shares of ProPetro from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, ProPetro has a consensus rating of “Hold” and an average target price of $8.80.

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.