Victory Capital Management Inc. buys 7,352 shares of ProPetro Holding Corp. (NYSE: PUMP)
Victory Capital Management Inc. increased its stake in shares of ProPetro Holding Corp. (NYSE: PUMP – Get an assessment) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The company held 159,534 shares of the company after purchasing an additional 7,352 shares during the quarter. Victory Capital Management Inc. held approximately 0.15% of ProPetro worth $2,226,000 at the end of the most recent period.
Other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Chilton Capital Management LLC bought a new position in ProPetro during the fourth quarter worth $37,000. US Asset Management LLC bought a new position in ProPetro during the first quarter worth $89,000. CIBC Asset Management Inc bought a new stake in shares of ProPetro in the fourth quarter valued at around $90,000. Teacher Retirement System of Texas increased its position in ProPetro shares by 22.3% in the fourth quarter. Teacher Retirement System of Texas now owns 14,918 shares of the company valued at $121,000 after acquiring 2,718 additional shares during the period. Finally, SG Americas Securities LLC purchased a new equity stake in ProPetro in the first quarter valued at approximately $244,000. 86.35% of the shares are held by institutional investors.
Changes to analyst ratings
A number of equity research analysts have recently released reports on the stock. Piper Sandler raised her price target on ProPetro shares from $15.50 to $16.75 and gave the company a “neutral” rating in a Wednesday, June 1 research report. Evercore ISI cut its target price on ProPetro shares to $13.00 in a research report on Tuesday. Tudor, Pickering, Holt & Co. moved ProPetro shares from a “hold” rating to a “buy” rating in a Thursday, May 5, research report. Citigroup raised its target price on ProPetro shares to $19.00 in a Friday, June 3 research report. Finally, Tudor Pickering upgraded ProPetro from a “hold” rating to a “buy” rating in a Thursday, May 5 research note. One financial analyst gave the stock a sell rating, one gave the company a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $16.13.
ProPetro stock up 5.4%
Stock PUMP opened at $8.80 on Friday. The company has a market capitalization of $918.23 million, a PE ratio of -19.13 and a beta of 2.44. ProPetro Holding Corp. has a 52-week low of $6.39 and a 52-week high of $16.92. The company has a 50-day simple moving average of $10.23 and a 200-day simple moving average of $12.14.
ProPetro (NYSE: PUMP – Get an assessment) last reported results on Tuesday, August 2. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of $0.23 per ($0.55). ProPetro had a positive return on equity of 2.05% and a negative net margin of 4.24%. During the same period last year, the company posted ($0.08) EPS. On average, analysts expect ProPetro Holding Corp. will show an EPS of 0.32 for the current financial year.
Insiders place their bets
In other ProPetro news, Director Spencer D. Armor III sold 32,931 shares of the company in a trade dated Tuesday, July 5. The stock was sold at an average price of $8.99, for a total transaction of $296,049.69. Following the completion of the transaction, the director now owns 67,899 shares of the company, valued at $610,412.01. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. In other news, Director Spencer D. Armor III sold 32,931 shares of the company in a trade dated Tuesday, July 5. The stock was sold at an average price of $8.99, for a total transaction of $296,049.69. Following the sale, the administrator now directly owns 67,899 shares of the company, valued at $610,412.01. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Additionally, COO Adam Munoz sold 15,846 shares of the company in a trade dated Tuesday, May 17. The stock was sold at an average price of $12.99, for a total value of $205,839.54. Following the sale, the chief operating officer now owns 33,162 shares of the company, valued at $430,774.38. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 128,395 shares of the company valued at $1,471,575. 0.90% of the shares are currently held by company insiders.
ProPetro Company Profile
ProPetro Holding Corp., an oil services company, provides hydraulic fracturing and other related services. The Company operates through pressure pumping and all other segments. It offers cementing, souring and coiled tubing services. The Company serves oil and gas companies engaged in the exploration and production of North American oil and gas resources.
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