ProPetro Holding Corp. (NYSE:PUMP) Holdings Boosted by Wellington Management Group LLP

Wellington Management Group LLP grew its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 740,554 shares of the company’s stock after purchasing an additional 40,188 shares during the period. Wellington Management Group LLP owned approximately 0.67% of ProPetro worth $6,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PUMP. Signaturefd LLC lifted its stake in ProPetro by 47.1% in the 4th quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock worth $66,000 after acquiring an additional 2,542 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of ProPetro by 7.4% in the third quarter. Hsbc Holdings PLC now owns 31,415 shares of the company’s stock worth $334,000 after purchasing an additional 2,172 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in shares of ProPetro during the third quarter worth approximately $314,000. Dimensional Fund Advisors LP grew its position in ProPetro by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock valued at $61,120,000 after purchasing an additional 378,379 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in ProPetro by 13.3% in the 3rd quarter. American Century Companies Inc. now owns 1,387,406 shares of the company’s stock valued at $14,748,000 after buying an additional 163,363 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of ProPetro from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. Benchmark reissued a “hold” rating on shares of ProPetro in a research report on Thursday, May 2nd.

Insiders Place Their Bets

In other news, COO Adam Munoz sold 42,573 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total value of $395,077.44. Following the completion of the sale, the chief operating officer now directly owns 58,134 shares in the company, valued at $539,483.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Michele Vion sold 7,778 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $9.21, for a total transaction of $71,635.38. Following the completion of the sale, the director now owns 39,006 shares in the company, valued at approximately $359,245.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Adam Munoz sold 42,573 shares of ProPetro stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $9.28, for a total value of $395,077.44. Following the completion of the transaction, the chief operating officer now directly owns 58,134 shares in the company, valued at $539,483.52. The disclosure for this sale can be found here. Company insiders own 0.88% of the company’s stock.

ProPetro Price Performance

NYSE PUMP opened at $8.67 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.18 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $932.35 million, a PE ratio of 12.93 and a beta of 2.10. ProPetro Holding Corp. has a 12-month low of $6.99 and a 12-month high of $11.37. The company has a 50 day moving average price of $9.08 and a two-hundred day moving average price of $8.38.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.10. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. The firm had revenue of $405.84 million during the quarter, compared to analysts’ expectations of $393.11 million. During the same period in the prior year, the company posted $0.40 earnings per share. ProPetro’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities analysts predict that ProPetro Holding Corp. will post 0.67 earnings per share for the current fiscal year.

About ProPetro

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.