Thrivent Financial for Lutherans Sells 221,413 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Thrivent Financial for Lutherans decreased its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 46.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,134 shares of the company’s stock after selling 221,413 shares during the period. Thrivent Financial for Lutherans owned about 0.24% of ProPetro worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PUMP. Victory Capital Management Inc. lifted its position in ProPetro by 1.8% during the second quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock valued at $970,000 after purchasing an additional 1,990 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of ProPetro by 8.9% during the 2nd quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock valued at $259,000 after buying an additional 2,446 shares in the last quarter. Stanley Laman Group Ltd. grew its stake in shares of ProPetro by 0.7% during the 2nd quarter. Stanley Laman Group Ltd. now owns 412,752 shares of the company’s stock valued at $3,579,000 after acquiring an additional 2,825 shares during the period. Arizona State Retirement System grew its stake in shares of ProPetro by 12.6% during the 2nd quarter. Arizona State Retirement System now owns 25,596 shares of the company’s stock valued at $222,000 after acquiring an additional 2,874 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in ProPetro by 15.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 27,618 shares of the company’s stock worth $224,000 after acquiring an additional 3,687 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered their price target on shares of ProPetro from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

ProPetro Price Performance

Shares of ProPetro stock opened at $7.97 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.05. ProPetro Holding Corp. has a 52 week low of $6.74 and a 52 week high of $11.37. The stock’s 50-day simple moving average is $8.07 and its 200-day simple moving average is $8.48. The company has a market capitalization of $857.03 million, a price-to-earnings ratio of 11.89 and a beta of 2.02.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The company had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $361.85 million. During the same period last year, the business earned $0.34 earnings per share. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. As a group, analysts expect that ProPetro Holding Corp. will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other ProPetro news, Director Michele Vion sold 5,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $8.26, for a total value of $41,300.00. Following the completion of the sale, the director now directly owns 34,006 shares of the company’s stock, valued at approximately $280,889.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

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.