ProPetro Holding Corp. (NYSE:PUMP) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in shares of ProPetro Holding Corp. (NYSE:PUMP) by 8.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,912 shares of the company’s stock after buying an additional 2,446 shares during the period. Federated Hermes Inc.’s holdings in ProPetro were worth $259,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in shares of ProPetro during the 1st quarter valued at about $551,000. Russell Investments Group Ltd. boosted its holdings in ProPetro by 36.9% in the 1st quarter. Russell Investments Group Ltd. now owns 384,529 shares of the company’s stock valued at $3,107,000 after purchasing an additional 103,644 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of ProPetro in the 1st quarter valued at approximately $960,000. SG Americas Securities LLC acquired a new stake in shares of ProPetro during the 2nd quarter worth approximately $746,000. Finally, Trexquant Investment LP raised its position in shares of ProPetro by 66.6% during the 4th quarter. Trexquant Investment LP now owns 74,728 shares of the company’s stock valued at $626,000 after buying an additional 29,870 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Michele Vion sold 5,000 shares of the stock in a transaction 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 sale, the director now directly owns 34,006 shares in the company, valued at $280,889.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

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

ProPetro Stock Performance

NYSE:PUMP opened at $8.31 on Wednesday. ProPetro Holding Corp. has a fifty-two week low of $6.74 and a fifty-two week high of $11.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.04 and a current ratio of 1.11. The company has a 50 day moving average price of $8.16 and a 200 day moving average price of $8.48. The stock has a market capitalization of $894.16 million, a P/E ratio of 12.40 and a beta of 2.02.

ProPetro (NYSE:PUMP) last issued 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). The firm 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 company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 earnings per share. Equities research analysts forecast that ProPetro Holding Corp. will post 0.24 EPS for the current year.

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.