Pacer Advisors Inc. Buys Shares of 3,660,964 ProPetro Holding Corp. (NYSE:PUMP)

Pacer Advisors Inc. purchased a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,660,964 shares of the company’s stock, valued at approximately $31,741,000. Pacer Advisors Inc. owned approximately 3.51% of ProPetro at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in ProPetro by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock worth $61,120,000 after acquiring an additional 378,379 shares in the last quarter. American Century Companies Inc. grew 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 worth $21,810,000 after purchasing an additional 441,644 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ProPetro by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,686,215 shares of the company’s stock valued at $14,130,000 after buying an additional 65,517 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in ProPetro by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 780,498 shares of the company’s stock valued at $6,767,000 after buying an additional 14,144 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in ProPetro by 5.7% during the fourth quarter. Wellington Management Group LLP now owns 740,554 shares of the company’s stock valued at $6,206,000 after buying an additional 40,188 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Performance

Shares of NYSE PUMP opened at $8.24 on Friday. The stock has a market capitalization of $858.28 million, a P/E ratio of 12.30 and a beta of 2.02. The firm’s 50-day moving average price is $8.17 and its two-hundred day moving average price is $8.45. ProPetro Holding Corp. has a 52-week low of $6.74 and a 52-week high of $11.37. 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 (NYSE:PUMP) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.11). The company had revenue of $357.00 million for the quarter, compared to the consensus estimate of $361.85 million. ProPetro had a return on equity of 3.39% and a net margin of 2.21%. ProPetro’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, sell-side analysts forecast that ProPetro Holding Corp. will post 0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at ProPetro

In related news, Director Michele Vion sold 5,000 shares of ProPetro 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 sale, the director now directly owns 34,006 shares in the company, valued at approximately $280,889.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.