Quest Partners LLC Grows Stake in ProPetro Holding Corp. (NYSE:PUMP)

Quest Partners LLC grew its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 519.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,658 shares of the company’s stock after buying an additional 30,741 shares during the quarter. Quest Partners LLC’s holdings in ProPetro were worth $318,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PUMP. Chilton Capital Management LLC raised its position in shares of ProPetro by 87.1% in the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after acquiring an additional 4,000 shares in the last quarter. Innealta Capital LLC bought a new position in shares of ProPetro in the 2nd quarter worth approximately $76,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of ProPetro in the 4th quarter worth approximately $90,000. 9258 Wealth Management LLC bought a new position in shares of ProPetro in the 1st quarter worth approximately $100,000. Finally, Quadrature Capital Ltd bought a new position in shares of ProPetro in the 4th quarter worth approximately $102,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reduced their price objective on ProPetro from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Insiders Place Their Bets

In other ProPetro news, Director Michele Vion sold 5,000 shares of ProPetro stock in a transaction on Monday, August 26th. The stock was sold at an average price of $8.26, for a total value of $41,300.00. Following the completion of the sale, the director now owns 34,006 shares of the company’s stock, valued at approximately $280,889.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

ProPetro Stock Up 1.5 %

PUMP stock opened at $7.31 on Friday. ProPetro Holding Corp. has a twelve month low of $6.74 and a twelve month high of $11.37. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.05. The firm has a market cap of $761.41 million, a PE ratio of 10.92 and a beta of 2.02. The business has a 50 day moving average of $8.19 and a 200 day moving average of $8.42.

ProPetro (NYSE:PUMP) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The company had revenue of $357.00 million for the quarter, compared to the consensus estimate of $361.85 million. During the same period last year, the business earned $0.34 EPS. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. On average, research analysts forecast that ProPetro Holding Corp. will post 0.24 EPS for the current fiscal 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.