Squarepoint Ops LLC Grows Stake in ProPetro Holding Corp. (NYSE:PUMP)

Squarepoint Ops LLC lifted its stake in ProPetro Holding Corp. (NYSE:PUMP) by 299.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,057 shares of the company’s stock after buying an additional 117,724 shares during the period. Squarepoint Ops LLC owned approximately 0.15% of ProPetro worth $1,362,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in ProPetro by 1.8% in the 2nd quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock worth $970,000 after acquiring an additional 1,990 shares during the period. Federated Hermes Inc. raised its stake in shares of ProPetro by 8.9% during the second quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock valued at $259,000 after purchasing an additional 2,446 shares during the period. Stanley Laman Group Ltd. lifted its position in shares of ProPetro by 0.7% during the second quarter. Stanley Laman Group Ltd. now owns 412,752 shares of the company’s stock worth $3,579,000 after purchasing an additional 2,825 shares in the last quarter. Arizona State Retirement System grew its holdings in ProPetro by 12.6% during the 2nd quarter. Arizona State Retirement System now owns 25,596 shares of the company’s stock valued at $222,000 after purchasing an additional 2,874 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in ProPetro by 15.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,618 shares of the company’s stock worth $224,000 after buying an additional 3,687 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Stock Up 2.2 %

PUMP stock opened at $8.44 on Friday. The company has a market capitalization of $908.14 million, a P/E ratio of 12.60 and a beta of 2.02. The firm has a 50 day simple moving average of $8.04 and a 200-day simple moving average of $8.49. 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 twelve month low of $6.74 and a twelve month high of $11.37.

ProPetro (NYSE:PUMP) last released its 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). The company had revenue of $357.00 million during the quarter, compared to the consensus estimate of $361.85 million. ProPetro had a return on equity of 3.39% and a net margin of 2.21%. ProPetro’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 EPS. On average, equities research analysts predict that ProPetro Holding Corp. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at ProPetro

In other news, Director Michele Vion sold 5,000 shares of the business’s 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 sale, the director now directly owns 34,006 shares in the company, valued at approximately $280,889.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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