Wedge Capital Management L L P NC Acquires 35,193 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Wedge Capital Management L L P NC grew its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 31.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 148,363 shares of the company’s stock after purchasing an additional 35,193 shares during the quarter. Wedge Capital Management L L P NC’s holdings in ProPetro were worth $1,090,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. American Century Companies Inc. raised its stake in shares of ProPetro by 8.8% during the 4th quarter. American Century Companies Inc. now owns 3,236,135 shares of the company’s stock worth $30,193,000 after acquiring an additional 262,202 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of ProPetro by 57.3% during the 4th quarter. Van ECK Associates Corp now owns 1,527,598 shares of the company’s stock worth $14,253,000 after acquiring an additional 556,747 shares in the last quarter. Sourcerock Group LLC bought a new position in shares of ProPetro during the 4th quarter worth approximately $14,079,000. Bridgeway Capital Management LLC raised its stake in shares of ProPetro by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,034,873 shares of the company’s stock worth $9,655,000 after acquiring an additional 27,086 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of ProPetro by 29.5% during the 4th quarter. Royce & Associates LP now owns 931,139 shares of the company’s stock worth $8,688,000 after acquiring an additional 212,312 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

ProPetro Price Performance

Shares of NYSE PUMP opened at $6.20 on Wednesday. The firm has a 50-day simple moving average of $5.46 and a 200-day simple moving average of $7.59. The stock has a market capitalization of $643.72 million, a price-to-earnings ratio of -4.62 and a beta of 1.17. 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 Holding Corp. has a 52 week low of $4.61 and a 52 week high of $11.17.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $344.36 million. During the same period last year, the business earned $0.18 earnings per share. ProPetro’s revenue was down 11.4% compared to the same quarter last year. On average, equities analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays dropped their target price on shares of ProPetro from $12.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, March 3rd. Benchmark reissued a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. JPMorgan Chase & Co. dropped their target price on shares of ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus dropped their target price on shares of ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.75.

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.