[ad_1]
Millennium Management LLC grew its stake in ProPetro Holding Corp. (NYSE:PUMP – Free Report) by 359.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 508,817 shares of the company’s stock after purchasing an additional 398,021 shares during the period. Millennium Management LLC’s holdings in ProPetro were worth $4,747,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. MetLife Investment Management LLC boosted its holdings in shares of ProPetro by 2.5% in the 4th quarter. MetLife Investment Management LLC now owns 52,933 shares of the company’s stock valued at $494,000 after buying an additional 1,270 shares in the last quarter. Corient Private Wealth LLC boosted its stake in ProPetro by 8.7% during the 4th quarter. Corient Private Wealth LLC now owns 17,591 shares of the company’s stock worth $164,000 after purchasing an additional 1,405 shares during the period. Ieq Capital LLC boosted its stake 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 purchasing an additional 1,564 shares during the period. Smartleaf Asset Management LLC boosted its stake in ProPetro by 205.0% during the 4th 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 during the period. Finally, Sterling Capital Management LLC boosted its stake in ProPetro by 5.8% during the 4th quarter. Sterling Capital Management LLC now owns 46,415 shares of the company’s stock worth $433,000 after purchasing an additional 2,535 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.
Analysts Set New Price Targets
PUMP has been the subject of a number of recent research reports. Barclays decreased their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research note on Monday, March 3rd. Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Stifel Nicolaus decreased their price target on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. 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 research note on Wednesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.75.
Read Our Latest Stock Analysis on PUMP
ProPetro Stock Down 3.6%
PUMP stock opened at $5.46 on Thursday. ProPetro Holding Corp. has a one year low of $4.61 and a one year high of $11.17. The stock has a market capitalization of $566.83 million, a PE ratio of -4.07 and a beta of 1.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31. The company has a fifty day moving average of $5.75 and a 200-day moving average of $7.73.
ProPetro (NYSE:PUMP – Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. ProPetro had a negative net margin of 9.55% and a positive return on equity of 3.20%. The company had revenue of $359.42 million during the quarter, compared to analysts’ expectations of $344.36 million. During the same quarter last year, the business earned $0.18 EPS. The business’s revenue was down 11.4% on a year-over-year basis. As a group, analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current year.
ProPetro 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.
Read More
Want to see what other hedge funds are holding PUMP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProPetro Holding Corp. (NYSE:PUMP – Free Report).
Receive News & Ratings for ProPetro Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for ProPetro and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link