Axa S.A. Buys 164,829 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Axa S.A. raised its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 963.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,929 shares of the company’s stock after buying an additional 164,829 shares during the quarter. Axa S.A. owned about 0.17% of ProPetro worth $1,577,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of 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 purchasing an additional 1,990 shares during the last quarter. Federated Hermes Inc. increased its stake in ProPetro by 8.9% during the 2nd 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 in the last quarter. Stanley Laman Group Ltd. increased its stake in ProPetro by 0.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 412,752 shares of the company’s stock valued at $3,579,000 after purchasing an additional 2,825 shares in the last quarter. Arizona State Retirement System raised its holdings in ProPetro by 12.6% in the second quarter. Arizona State Retirement System now owns 25,596 shares of the company’s stock worth $222,000 after buying an additional 2,874 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of ProPetro by 15.4% in the first 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 in the last quarter. 84.70% of the stock is owned by institutional investors.

Insider Activity at ProPetro

In other ProPetro news, Director Michele Vion sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $8.26, for a total value 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 available at the SEC website. 0.88% of the stock is owned by company insiders.

ProPetro Price Performance

NYSE PUMP opened at $7.66 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.11. The company has a market capitalization of $824.22 million, a price-to-earnings ratio of 11.43 and a beta of 2.02. The stock has a 50-day moving average of $8.09 and a 200 day moving average of $8.48. ProPetro Holding Corp. has a one year low of $6.74 and a one year high of $11.37.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) 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 analysts’ expectations of $361.85 million. ProPetro had a return on equity of 3.39% and a net margin of 2.21%. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. On average, sell-side analysts forecast that ProPetro Holding Corp. will post 0.24 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reduced their price target 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 stock. Based on data from MarketBeat, the company presently has an average 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.