Intech Investment Management LLC Invests $263,000 in ProPetro Holding Corp. (NYSE:PUMP)

Intech Investment Management LLC acquired a new position in ProPetro Holding Corp. (NYSE:PUMP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 30,283 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its holdings in ProPetro by 49.8% during the 4th quarter. BNP Paribas Financial Markets now owns 46,852 shares of the company’s stock valued at $393,000 after acquiring an additional 15,569 shares during the period. Trexquant Investment LP boosted its holdings in ProPetro by 66.6% during the 4th quarter. Trexquant Investment LP now owns 74,728 shares of the company’s stock valued at $626,000 after acquiring an additional 29,870 shares during the period. Cantor Fitzgerald L. P. purchased a new stake in ProPetro during the 4th quarter valued at about $419,000. Wellington Management Group LLP boosted its holdings in ProPetro by 5.7% during the 4th quarter. Wellington Management Group LLP now owns 740,554 shares of the company’s stock valued at $6,206,000 after acquiring an additional 40,188 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in ProPetro during the 4th quarter valued at about $102,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ProPetro

In other news, Director Michele Vion sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 34,006 shares of the company’s stock, valued at approximately $280,889.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

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

ProPetro Trading Up 2.7 %

PUMP opened at $7.54 on Friday. The business has a 50 day simple moving average of $8.09 and a two-hundred day simple moving average of $8.47. The firm has a market capitalization of $785.37 million, a price-to-earnings ratio of 11.25 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.04. ProPetro Holding Corp. has a one year low of $6.74 and a one year high of $11.37.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $361.85 million. ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. 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.