Brevan Howard Capital Management LP Increases Position in ProPetro Holding Corp. (NYSE:PUMP)

Brevan Howard Capital Management LP lifted its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 53.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 40,631 shares of the company’s stock after acquiring an additional 14,094 shares during the period. Brevan Howard Capital Management LP’s holdings in ProPetro were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bridgefront Capital LLC purchased a new stake in shares of ProPetro during the 4th quarter valued at $160,000. Caxton Associates LP purchased a new stake in ProPetro during the fourth quarter worth about $391,000. Balyasny Asset Management L.P. bought a new stake in ProPetro in the fourth quarter worth about $4,934,000. Bank of America Corp DE boosted its stake in ProPetro by 107.9% in the fourth quarter. Bank of America Corp DE now owns 470,406 shares of the company’s stock valued at $4,389,000 after acquiring an additional 244,135 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of ProPetro by 129.3% during the 4th quarter. BNP Paribas Financial Markets now owns 249,136 shares of the company’s stock valued at $2,324,000 after acquiring an additional 140,476 shares during the period. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PUMP shares. Barclays lowered their price target on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a report on Monday, March 3rd. Stifel Nicolaus dropped their price target on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Finally, Benchmark reiterated a “hold” rating on shares of ProPetro in a research note on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.50.

ProPetro Stock Up 1.7 %

PUMP opened at $5.44 on Friday. ProPetro Holding Corp. has a 12 month low of $4.61 and a 12 month high of $11.17. The company has a market cap of $565.27 million, a PE ratio of -4.06 and a beta of 1.19. The company has a current ratio of 1.31, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $6.10 and a 200 day moving average of $7.89.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. ProPetro had a positive return on equity of 3.20% and a negative net margin of 9.55%. The firm had revenue of $359.42 million during the quarter, compared to analyst estimates of $344.36 million. During the same period last year, the company earned $0.18 earnings per share. The business’s revenue for the quarter was down 11.4% on a year-over-year basis. On average, sell-side analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current year.

ProPetro 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.