ProPetro Holding Corp. (NYSE:PUMP) Holdings Trimmed by Sagefield Capital LP

Sagefield Capital LP lowered its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 23.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,202 shares of the company’s stock after selling 122,138 shares during the period. Sagefield Capital LP owned approximately 0.39% of ProPetro worth $3,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PUMP. Quantbot Technologies LP purchased a new stake in ProPetro in the 1st quarter worth about $551,000. Russell Investments Group Ltd. lifted its position in shares of ProPetro by 36.9% in the first quarter. Russell Investments Group Ltd. now owns 384,529 shares of the company’s stock worth $3,107,000 after purchasing an additional 103,644 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of ProPetro during the first quarter worth approximately $960,000. SG Americas Securities LLC purchased a new position in ProPetro during the second quarter valued at approximately $746,000. Finally, Dimensional Fund Advisors LP increased its stake in ProPetro by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock valued at $61,120,000 after buying an additional 378,379 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Trading Up 1.3 %

Shares of NYSE PUMP opened at $8.35 on Tuesday. The stock has a market cap of $869.74 million, a price-to-earnings ratio of 12.46 and a beta of 2.02. The business has a 50 day simple moving average of $8.17 and a 200 day simple moving average of $8.47. 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 Holding Corp. has a 52 week low of $6.74 and a 52 week high of $11.37.

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). ProPetro had a return on equity of 3.39% and a net margin of 2.21%. The business had revenue of $357.00 million for the quarter, compared to analyst estimates of $361.85 million. During the same quarter last year, the company earned $0.34 EPS. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. On average, research analysts predict that ProPetro Holding Corp. will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michele Vion sold 5,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $8.26, for a total transaction of $41,300.00. Following the completion of the sale, the director now owns 34,006 shares in the company, valued at approximately $280,889.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus decreased their target price on shares of ProPetro from $13.00 to $12.00 and set a “buy” rating for the company in a research note 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.00.

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.