ProPetro Holding Corp. (NYSE:PUMP) Holdings Trimmed by AQR Capital Management LLC

AQR Capital Management LLC lowered its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 22.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 833,844 shares of the company’s stock after selling 239,441 shares during the period. AQR Capital Management LLC owned approximately 0.80% of ProPetro worth $7,229,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cantor Fitzgerald L. P. acquired a new stake in shares of ProPetro during the fourth quarter worth approximately $419,000. Wellington Management Group LLP grew its holdings in shares of 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 in the last quarter. Quadrature Capital Ltd acquired a new position in shares of ProPetro in the fourth quarter worth $102,000. North Star Investment Management Corp. raised its holdings in shares of ProPetro by 171.5% during the first quarter. North Star Investment Management Corp. now owns 246,000 shares of the company’s stock worth $1,988,000 after acquiring an additional 155,393 shares in the last quarter. Finally, Hartree Partners LP acquired a new stake in ProPetro during the first quarter valued at $3,259,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Trading Up 3.5 %

ProPetro stock opened at $8.26 on Friday. ProPetro Holding Corp. has a one year low of $6.74 and a one year high of $11.37. The company’s fifty day moving average price is $8.06 and its two-hundred day moving average price is $8.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.04. The company has a market capitalization of $888.78 million, a price-to-earnings ratio of 12.33 and a beta of 2.02.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 2.21% and a return on equity of 3.39%. The firm’s revenue was down 17.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. On average, analysts forecast that ProPetro Holding Corp. will post 0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at ProPetro

In related news, Director Michele Vion sold 5,000 shares of ProPetro 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 transaction, the director now owns 34,006 shares in the company, valued at approximately $280,889.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.88% of the stock is owned by corporate insiders.

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.