B. Riley Wealth Advisors Inc. Invests $764,000 in ProPetro Holding Corp. (NYSE:PUMP)

B. Riley Wealth Advisors Inc. bought a new stake in ProPetro Holding Corp. (NYSE:PUMP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 88,101 shares of the company’s stock, valued at approximately $764,000. B. Riley Wealth Advisors Inc. owned about 0.08% of ProPetro as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in ProPetro during the 2nd quarter valued at about $31,741,000. American Century Companies Inc. grew its position in shares of 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 purchasing an additional 441,644 shares in the last quarter. Hartree Partners LP acquired a new stake in shares of ProPetro in the first quarter valued at approximately $3,259,000. Susquehanna Fundamental Investments LLC lifted its position in ProPetro by 441.7% during the second quarter. Susquehanna Fundamental Investments LLC now owns 303,971 shares of the company’s stock worth $2,635,000 after buying an additional 247,860 shares in the last quarter. Finally, AXA S.A. boosted its stake in ProPetro by 963.9% during the second quarter. AXA S.A. now owns 181,929 shares of the company’s stock worth $1,577,000 after buying an additional 164,829 shares during the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Stock Up 2.2 %

PUMP stock opened at $8.44 on Friday. ProPetro Holding Corp. has a one year low of $6.74 and a one year high of $11.37. The firm has a market cap of $908.14 million, a PE ratio of 12.60 and a beta of 2.02. The firm’s 50 day moving average price is $8.04 and its 200-day moving average price is $8.49. 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 (NYSE:PUMP) last announced its quarterly 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 business 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%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS. On average, equities research analysts anticipate that ProPetro Holding Corp. will post 0.24 EPS for the current year.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

Insiders Place Their Bets

In other news, Director Michele Vion sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $8.26, for a total value of $41,300.00. Following the sale, the director now directly owns 34,006 shares of the company’s stock, valued at approximately $280,889.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.

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.