B. Riley Wealth Advisors Inc. Trims Stake in ProPetro Holding Corp. (NYSE:PUMP)

B. Riley Wealth Advisors Inc. trimmed its stake in ProPetro Holding Corp. (NYSE:PUMP) by 47.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,038 shares of the company’s stock after selling 130,336 shares during the period. B. Riley Wealth Advisors Inc. owned 0.14% of ProPetro worth $1,325,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MetLife Investment Management LLC boosted its holdings in ProPetro by 2.5% in the 4th quarter. MetLife Investment Management LLC now owns 52,933 shares of the company’s stock worth $494,000 after buying an additional 1,270 shares during the period. Corient Private Wealth LLC boosted its holdings in ProPetro by 8.7% in the 4th quarter. Corient Private Wealth LLC now owns 17,591 shares of the company’s stock worth $164,000 after buying an additional 1,405 shares during the period. Ieq Capital LLC boosted its holdings in ProPetro by 13.0% in the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock worth $127,000 after buying an additional 1,564 shares during the period. Smartleaf Asset Management LLC boosted its holdings in ProPetro by 205.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after buying an additional 2,005 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in ProPetro by 5.8% in the 4th quarter. Sterling Capital Management LLC now owns 46,415 shares of the company’s stock worth $433,000 after buying an additional 2,535 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Stock Up 1.4%

PUMP opened at $5.66 on Wednesday. The firm has a 50-day simple moving average of $5.79 and a two-hundred day simple moving average of $7.75. ProPetro Holding Corp. has a 52 week low of $4.61 and a 52 week high of $11.17. The company has a market capitalization of $588.13 million, a PE ratio of -4.22 and a beta of 1.19. The company has a quick ratio of 1.14, a current ratio of 1.31 and a debt-to-equity ratio of 0.06.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PUMP shares. Barclays dropped their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 3rd. Benchmark reissued a “hold” rating on shares of ProPetro in a report on Thursday, February 20th. Finally, Stifel Nicolaus dropped their price objective on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock 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.