Encompass Capital Advisors LLC Purchases 36,339 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Encompass Capital Advisors LLC boosted its position in ProPetro Holding Corp. (NYSE:PUMP) by 2.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,526,485 shares of the company’s stock after acquiring an additional 36,339 shares during the quarter. Encompass Capital Advisors LLC’s holdings in ProPetro were worth $13,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of PUMP. AXA S.A. lifted its stake in shares of ProPetro by 963.9% in the second quarter. AXA S.A. now owns 181,929 shares of the company’s stock valued at $1,577,000 after buying an additional 164,829 shares during the period. Squarepoint Ops LLC lifted its position in shares of ProPetro by 299.3% in the 2nd quarter. Squarepoint Ops LLC now owns 157,057 shares of the company’s stock worth $1,362,000 after acquiring an additional 117,724 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of ProPetro during the 2nd quarter worth approximately $104,000. Public Sector Pension Investment Board grew its holdings in shares of ProPetro by 3.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 181,371 shares of the company’s stock worth $1,572,000 after purchasing an additional 5,225 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of ProPetro by 10.9% during the second quarter. Sei Investments Co. now owns 43,657 shares of the company’s stock valued at $379,000 after purchasing an additional 4,276 shares during the period. Institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

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

ProPetro Price Performance

Shares of PUMP opened at $7.88 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. The stock has a market cap of $820.78 million, a P/E ratio of 11.76 and a beta of 2.02. The stock’s 50-day moving average price is $8.13 and its two-hundred day moving average price is $8.47. ProPetro Holding Corp. has a 1 year low of $6.74 and a 1 year 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). The business had revenue of $357.00 million for the quarter, compared to analyst estimates of $361.85 million. ProPetro had a return on equity of 3.39% and a net margin of 2.21%. The business’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. On average, equities analysts predict that ProPetro Holding Corp. will post 0.24 earnings per share for the current year.

Insider Transactions at ProPetro

In other news, Director Michele Vion sold 5,000 shares of the business’s stock in a transaction on 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 owns 34,006 shares of the company’s stock, valued at $280,889.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.88% of the stock is owned by insiders.

About ProPetro

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.