PKO BP BANKOWY Universal Pension Society JSC Reduces Stock Position in ProPetro Holding Corp. $PUMP

PKO BP BANKOWY Universal Pension Society JSC lowered its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 8.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 800,144 shares of the company’s stock after selling 70,341 shares during the period. ProPetro makes up about 2.1% of PKO BP BANKOWY Universal Pension Society JSC’s portfolio, making the stock its 10th biggest position. PKO BP BANKOWY Universal Pension Society JSC’s holdings in ProPetro were worth $7,073,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in ProPetro in the second quarter worth about $130,574,000. Cooper Creek Partners Management LLC purchased a new position in ProPetro during the 1st quarter valued at about $42,748,000. Wellington Management Group LLP raised its holdings in shares of ProPetro by 882.3% in the 2nd quarter. Wellington Management Group LLP now owns 2,290,361 shares of the company’s stock valued at $32,844,000 after purchasing an additional 2,057,195 shares in the last quarter. Fund 1 Investments LLC raised its holdings in shares of ProPetro by 2,653.6% in the 2nd quarter. Fund 1 Investments LLC now owns 1,793,882 shares of the company’s stock valued at $25,724,000 after purchasing an additional 1,728,736 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of ProPetro in the 2nd quarter worth approximately $20,316,000. 84.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at ProPetro

In related news, COO Adam Muñoz sold 70,696 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total transaction of $789,674.32. Following the transaction, the chief operating officer directly owned 148,691 shares of the company’s stock, valued at $1,660,878.47. This represents a 32.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director G Lawrence sold 35,831 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total value of $399,873.96. Following the completion of the sale, the director owned 28,181 shares of the company’s stock, valued at approximately $314,499.96. This trade represents a 55.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PUMP. Scotiabank started coverage on shares of ProPetro in a research note on Tuesday, September 29th. They set a “sector perform” rating and a $12.00 price objective on the stock. Wall Street Zen lowered ProPetro from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Weiss Ratings cut ProPetro from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 29th. Morgan Stanley assumed coverage on ProPetro in a report on Monday, September 14th. They issued an “equal weight” rating and a $13.00 price target on the stock. Finally, Stifel Nicolaus reduced their price target on ProPetro from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, ProPetro presently has a consensus rating of “Moderate Buy” and an average price target of $15.25.

ProPetro Stock Up 1.6%

Shares of ProPetro stock traded up $0.14 on Friday, reaching $9.19. The stock had a trading volume of 1,024,717 shares, compared to its average volume of 3,903,924. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $1.13 billion, a P/E ratio of -83.48 and a beta of 0.86. The company has a 50 day moving average price of $10.76 and a 200 day moving average price of $13.30. ProPetro Holding Corp. has a 1 year low of $4.87 and a 1 year high of $18.50.

ProPetro (NYSE:PUMP) last announced its earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.06). ProPetro had a negative net margin of 1.15% and a negative return on equity of 1.49%. The firm had revenue of $305.81 million during the quarter, compared to analyst estimates of $304.48 million. During the same quarter last year, the business earned ($0.07) earnings per share. ProPetro’s revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that ProPetro Holding Corp. will post -0.11 EPS for the current year.

About ProPetro

ProPetro Holding Corp. is an oilfield services company that provides completion and production services to exploration and production companies. Through its operating subsidiaries, the company primarily supports the development of unconventional oil and natural gas wells.

ProPetro’s services include hydraulic fracturing, well stimulation, wireline services and related completion activities. Its hydraulic fracturing operations use fleets of high-pressure pumping equipment to help operators complete wells, while its wireline business supports well intervention, evaluation and perforating activities.

Headquartered in Midland, Texas, ProPetro primarily serves customers operating in the Permian Basin of West Texas and southeastern New Mexico, one of the largest U.S.