ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in ProPetro Holding Corp. (NYSE:PUMP) by 46.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 251,134 shares of the company’s stock after selling 221,413 shares during the period. Thrivent Financial for Lutherans’ holdings in ProPetro were worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PUMP. Chilton Capital Management LLC raised its stake in ProPetro by 87.1% during the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after acquiring an additional 4,000 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of ProPetro during the 2nd quarter worth approximately $76,000. Vanguard Personalized Indexing Management LLC acquired a new stake in ProPetro in the 2nd quarter valued at about $94,000. Headlands Technologies LLC acquired a new position in shares of ProPetro during the 2nd quarter worth approximately $99,000. Finally, XTX Topco Ltd purchased a new stake in shares of ProPetro in the second quarter valued at $99,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Michele Vion sold 5,000 shares of ProPetro stock in a transaction dated Monday, August 26th. The stock was 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

ProPetro Stock Up 4.0 %

Shares of ProPetro stock opened at $7.97 on Wednesday. ProPetro Holding Corp. has a fifty-two week low of $6.74 and a fifty-two week high of $11.37. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.05. The firm has a market cap of $857.03 million, a P/E ratio of 11.89 and a beta of 2.02. The business has a 50-day moving average price of $8.07 and a 200 day moving average price of $8.48.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The company had revenue of $357.00 million for 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 quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. On average, sell-side analysts forecast that ProPetro Holding Corp. will post 0.24 earnings per share for the current fiscal year.

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.