3,660,964 Shares in ProPetro Holding Corp. (NYSE:PUMP) Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. bought a new position in ProPetro Holding Corp. (NYSE:PUMP) in the second quarter, Holdings Channel.com reports. The fund bought 3,660,964 shares of the company’s stock, valued at approximately $31,741,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PUMP. American Century Companies Inc. grew its stake in shares of ProPetro by 21.3% in the 2nd quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock worth $21,810,000 after purchasing an additional 441,644 shares during the last quarter. Hartree Partners LP acquired a new position in ProPetro in the first quarter worth approximately $3,259,000. Dimensional Fund Advisors LP grew its position in ProPetro by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock worth $61,120,000 after buying an additional 378,379 shares during the last quarter. North Star Investment Management Corp. increased its holdings in shares of ProPetro by 171.5% in the first quarter. North Star Investment Management Corp. now owns 246,000 shares of the company’s stock valued at $1,988,000 after buying an additional 155,393 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of ProPetro during the 1st quarter valued at $960,000. 84.70% of the stock is owned by institutional investors.

ProPetro Stock Up 0.1 %

Shares of NYSE:PUMP opened at $8.24 on Friday. The firm has a 50 day simple moving average of $8.17 and a 200 day simple moving average of $8.45. The company has a market cap of $858.28 million, a PE ratio of 12.30 and a beta of 2.02. ProPetro Holding Corp. has a 52 week low of $6.74 and a 52 week high of $11.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.11.

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

Insider Transactions at ProPetro

In related news, Director Michele Vion sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $8.26, for a total transaction of $41,300.00. Following the transaction, the director now directly owns 34,006 shares of the company’s stock, valued at $280,889.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut their target price on ProPetro from $13.00 to $12.00 and set a “buy” rating on the stock 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.00.

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.