Arizona State Retirement System Boosts Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Arizona State Retirement System grew its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 12.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,596 shares of the company’s stock after buying an additional 2,874 shares during the quarter. Arizona State Retirement System’s holdings in ProPetro were worth $222,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PUMP. Victory Capital Management Inc. raised its holdings in ProPetro by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock valued at $970,000 after buying an additional 1,990 shares during the last quarter. Stanley Laman Group Ltd. increased its position in shares of ProPetro by 0.7% in the second quarter. Stanley Laman Group Ltd. now owns 412,752 shares of the company’s stock valued at $3,579,000 after acquiring an additional 2,825 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of ProPetro by 15.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 27,618 shares of the company’s stock valued at $224,000 after acquiring an additional 3,687 shares during the last quarter. Chilton Capital Management LLC boosted its holdings in shares of ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after purchasing an additional 4,000 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in shares of ProPetro by 60.0% in the fourth quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company’s stock worth $102,000 after purchasing an additional 4,550 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered their price target 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 given a buy rating to the company. According to MarketBeat.com, ProPetro presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Insider Activity

In other news, Director Michele Vion sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $8.26, for a total value of $41,300.00. Following the sale, the director now directly owns 34,006 shares of the company’s stock, valued at approximately $280,889.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is currently owned by company insiders.

ProPetro Trading Up 0.4 %

NYSE:PUMP opened at $8.04 on Thursday. The company has a 50-day moving average price of $8.18 and a 200-day moving average price of $8.44. The stock has a market cap of $837.45 million, a price-to-earnings ratio of 12.00 and a beta of 2.02. The company has a current ratio of 1.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. ProPetro Holding Corp. has a 12 month low of $6.74 and a 12 month high of $11.37.

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