Creative Planning Has $276,000 Stake in ProPetro Holding Corp. (NYSE:PUMP)

Creative Planning increased its position in ProPetro Holding Corp. (NYSE:PUMP) by 28.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,793 shares of the company’s stock after purchasing an additional 7,025 shares during the quarter. Creative Planning’s holdings in ProPetro were worth $276,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in shares of ProPetro by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,095,253 shares of the company’s stock worth $61,515,000 after acquiring an additional 54,555 shares during the period. Pacer Advisors Inc. bought a new position in ProPetro during the second quarter worth about $31,741,000. American Century Companies Inc. boosted its holdings in ProPetro by 21.3% during 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. Encompass Capital Advisors LLC grew its stake in shares of ProPetro by 2.4% in the 2nd quarter. Encompass Capital Advisors LLC now owns 1,526,485 shares of the company’s stock valued at $13,235,000 after purchasing an additional 36,339 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of ProPetro by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 780,498 shares of the company’s stock worth $6,767,000 after buying an additional 14,144 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PUMP shares. Stifel Nicolaus lowered their price target on ProPetro from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, October 11th. Barclays reduced their target price on shares of ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday.

ProPetro Stock Performance

NYSE:PUMP opened at $7.75 on Friday. The stock has a market capitalization of $833.90 million, a P/E ratio of 11.57 and a beta of 2.02. The company has a current ratio of 1.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.05. ProPetro Holding Corp. has a 1 year low of $6.74 and a 1 year high of $11.37. The firm has a 50 day moving average of $7.96 and a 200-day moving average of $8.51.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) earnings per share (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 the consensus estimate of $361.85 million. ProPetro had a net margin of 2.21% and a return on equity of 3.39%. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. As a group, sell-side analysts anticipate that ProPetro Holding Corp. will post 0.17 EPS for the current fiscal year.

Insider Activity at ProPetro

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

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.