FORA Capital LLC Acquires New Stake in ProPetro Holding Corp. (NYSE:PUMP)

FORA Capital LLC acquired a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,579 shares of the company’s stock, valued at approximately $127,000.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC raised its holdings in ProPetro by 109.2% during the third quarter. Barclays PLC now owns 242,057 shares of the company’s stock worth $1,855,000 after purchasing an additional 126,346 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of ProPetro by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 61,979 shares of the company’s stock worth $513,000 after buying an additional 3,417 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ProPetro by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 97,736 shares of the company’s stock valued at $749,000 after buying an additional 5,198 shares during the period. GAMMA Investing LLC boosted its stake in shares of ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock valued at $41,000 after buying an additional 1,225 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in ProPetro by 4.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 169,591 shares of the company’s stock worth $1,582,000 after acquiring an additional 7,101 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Stock Up 1.7 %

ProPetro stock opened at $5.44 on Friday. ProPetro Holding Corp. has a fifty-two week low of $4.61 and a fifty-two week high of $11.17. The firm has a market capitalization of $565.27 million, a price-to-earnings ratio of -4.06 and a beta of 1.19. The stock’s fifty day moving average is $6.10 and its two-hundred day moving average is $7.89. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $359.42 million for the quarter, compared to analysts’ expectations of $344.36 million. ProPetro had a negative net margin of 9.55% and a positive return on equity of 3.20%. The firm’s revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS. Analysts predict that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.