Texas Permanent School Fund Corp Boosts Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Texas Permanent School Fund Corp grew its position in ProPetro Holding Corp. (NYSE:PUMP) by 66.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,874 shares of the company’s stock after purchasing an additional 49,585 shares during the quarter. Texas Permanent School Fund Corp owned about 0.12% of ProPetro worth $1,074,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PUMP. Victory Capital Management Inc. boosted its position in shares of ProPetro by 1.8% in the 2nd quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock worth $970,000 after purchasing an additional 1,990 shares in the last quarter. Stanley Laman Group Ltd. raised its stake in ProPetro by 0.7% in the second quarter. Stanley Laman Group Ltd. now owns 412,752 shares of the company’s stock valued at $3,579,000 after buying an additional 2,825 shares during the last quarter. Arizona State Retirement System boosted its holdings in ProPetro by 12.6% in the second quarter. Arizona State Retirement System now owns 25,596 shares of the company’s stock worth $222,000 after acquiring an additional 2,874 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of ProPetro by 15.4% during the first 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 during the last quarter. Finally, Chilton Capital Management LLC increased its holdings in shares of ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after acquiring an additional 4,000 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ProPetro news, Director Michele Vion sold 5,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 34,006 shares of the company’s stock, valued at $280,889.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

ProPetro Price Performance

NYSE PUMP opened at $8.25 on Friday. The stock’s fifty day moving average price is $8.17 and its 200 day moving average price is $8.45. ProPetro Holding Corp. has a 1 year low of $6.74 and a 1 year high of $11.37. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.04. The company has a market cap of $858.80 million, a price-to-earnings ratio of 12.31 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 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 firm had revenue of $357.00 million during the quarter, compared to analyst estimates of $361.85 million. During the same period in the prior year, the company posted $0.34 earnings per share. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. As a group, equities research analysts forecast that ProPetro Holding Corp. will post 0.24 earnings per share for the current year.

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.