Exchange Traded Concepts LLC Purchases New Shares in ProPetro Holding Corp. (NYSE:PUMP)

Exchange Traded Concepts LLC acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 132,305 shares of the company’s stock, valued at approximately $1,013,000. Exchange Traded Concepts LLC owned 0.12% of ProPetro at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of ProPetro in the 1st quarter valued at approximately $551,000. Russell Investments Group Ltd. boosted its position in shares of ProPetro by 36.9% in the first quarter. Russell Investments Group Ltd. now owns 384,529 shares of the company’s stock worth $3,107,000 after buying an additional 103,644 shares during the period. Jennison Associates LLC acquired a new stake in shares of ProPetro in the first quarter worth $960,000. SG Americas Securities LLC acquired a new position in ProPetro during the second quarter valued at $746,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in ProPetro in the 2nd quarter worth about $764,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PUMP shares. Barclays lowered their target price on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, October 11th.

ProPetro Stock Performance

Shares of PUMP stock opened at $8.17 on Thursday. The firm has a market cap of $879.09 million, a P/E ratio of 12.19 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.04. ProPetro Holding Corp. has a fifty-two week low of $6.74 and a fifty-two week high of $11.37. The stock’s 50-day moving average is $7.98 and its two-hundred day moving average is $8.51.

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 the consensus estimate of $0.08 by ($0.11). The business had revenue of $357.00 million for 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%. ProPetro’s 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. Analysts predict that ProPetro Holding Corp. will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Michele Vion sold 5,000 shares of the company’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 completion of the sale, the director now directly owns 34,006 shares in the company, valued at approximately $280,889.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.88% of the stock is owned by 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.