First Eagle Investment Management LLC Has $4.47 Million Stock Position in ProPetro Holding Corp. (NYSE:PUMP)

First Eagle Investment Management LLC increased its stake in ProPetro Holding Corp. (NYSE:PUMP) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 515,103 shares of the company’s stock after buying an additional 34,700 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.49% of ProPetro worth $4,466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Personalized Indexing Management LLC bought a new position in shares of ProPetro in the 2nd quarter valued at about $94,000. Dimensional Fund Advisors LP lifted its stake in ProPetro by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company’s stock valued at $61,515,000 after purchasing an additional 54,555 shares during the last quarter. Federated Hermes Inc. grew its holdings in ProPetro by 8.9% during the second quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock worth $259,000 after purchasing an additional 2,446 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in ProPetro during the second quarter worth approximately $146,000. Finally, American Century Companies Inc. raised its stake in ProPetro by 21.3% in the second quarter. American Century Companies Inc. now owns 2,515,579 shares of the company’s stock valued at $21,810,000 after buying an additional 441,644 shares during the period. 84.70% of the stock is owned by institutional investors.

ProPetro Stock Performance

Shares of PUMP stock opened at $8.25 on Friday. The company has a market capitalization of $858.80 million, a price-to-earnings ratio of 12.31 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.11. ProPetro Holding Corp. has a 52 week low of $6.74 and a 52 week high of $11.37. The company has a 50-day simple moving average of $8.17 and a 200 day simple moving average of $8.45.

ProPetro (NYSE:PUMP) last posted its earnings results on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.11). The firm had revenue of $357.00 million during the quarter, compared to analyst estimates of $361.85 million. ProPetro had a net margin of 2.21% and a return on equity of 3.39%. ProPetro’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. On average, sell-side analysts predict that ProPetro Holding Corp. will post 0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced their target price on ProPetro from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, ProPetro presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Insider Transactions at ProPetro

In related news, Director Michele Vion sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $8.26, for a total value of $41,300.00. Following the transaction, the director now directly owns 34,006 shares in the company, valued at $280,889.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

ProPetro Company 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.