Kennedy Capital Management LLC Cuts Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

Kennedy Capital Management LLC lessened its stake in ProPetro Holding Corp. (NYSE:PUMP) by 6.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 802,430 shares of the company’s stock after selling 54,806 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.75% of ProPetro worth $6,484,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC grew its holdings in shares of ProPetro by 47.1% during the fourth quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock worth $66,000 after buying an additional 2,542 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of ProPetro during the fourth quarter worth $90,000. Quadrant Capital Group LLC grew its holdings in shares of ProPetro by 60.0% during the fourth quarter. Quadrant Capital Group LLC now owns 12,136 shares of the company’s stock worth $102,000 after buying an additional 4,550 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of ProPetro during the fourth quarter worth $102,000. Finally, 9258 Wealth Management LLC purchased a new stake in shares of ProPetro during the first quarter worth $100,000. Hedge funds and other institutional investors own 84.70% of the company’s stock.

ProPetro Trading Up 7.2 %

NYSE PUMP traded up $0.64 during trading hours on Wednesday, reaching $9.55. The company had a trading volume of 611,719 shares, compared to its average volume of 1,543,425. The stock has a 50-day moving average of $8.75 and a 200 day moving average of $8.41. ProPetro Holding Corp. has a 1-year low of $6.99 and a 1-year high of $11.37. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.03 billion, a P/E ratio of 14.31 and a beta of 2.10.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, May 1st. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. The company had revenue of $405.84 million for the quarter, compared to analysts’ expectations of $393.11 million. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. ProPetro’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. As a group, research analysts anticipate that ProPetro Holding Corp. will post 0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ProPetro news, COO Adam Munoz sold 42,573 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $9.28, for a total transaction of $395,077.44. Following the sale, the chief operating officer now directly owns 58,134 shares in the company, valued at $539,483.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Michele Vion sold 7,778 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $9.21, for a total transaction of $71,635.38. Following the sale, the director now directly owns 39,006 shares in the company, valued at $359,245.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Munoz sold 42,573 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $9.28, for a total transaction of $395,077.44. Following the sale, the chief operating officer now owns 58,134 shares in the company, valued at $539,483.52. The disclosure for this sale can be found here. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PUMP shares. Stifel Nicolaus dropped their target price on shares of ProPetro from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Benchmark reissued a “hold” rating on shares of ProPetro in a research report on Thursday, May 2nd. Finally, Barclays boosted their price target on shares of ProPetro from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ProPetro has a consensus 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.