ProPetro Holding Corp. (NYSE:PUMP) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in ProPetro Holding Corp. (NYSE:PUMP) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,095,253 shares of the company’s stock after acquiring an additional 54,555 shares during the quarter. Dimensional Fund Advisors LP owned about 6.59% of ProPetro worth $61,515,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Chilton Capital Management LLC grew its position in ProPetro by 87.1% in the 2nd quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock valued at $75,000 after buying an additional 4,000 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of ProPetro in the 2nd quarter worth $76,000. Headlands Technologies LLC purchased a new stake in shares of ProPetro in the second quarter valued at about $99,000. 9258 Wealth Management LLC purchased a new stake in shares of ProPetro in the first quarter valued at approximately $100,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of ProPetro in the fourth quarter valued at about $102,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reduced their price objective on ProPetro from $13.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.00.

ProPetro Stock Up 2.8 %

Shares of ProPetro stock opened at $7.55 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.04. ProPetro Holding Corp. has a 1-year low of $6.74 and a 1-year high of $11.37. The business has a 50-day moving average of $8.09 and a 200-day moving average of $8.47. The company has a market capitalization of $785.89 million, a PE ratio of 11.26 and a beta of 2.02.

ProPetro (NYSE:PUMP) last released 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). ProPetro had a return on equity of 3.39% and a net margin of 2.21%. The business 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 firm earned $0.34 EPS. The business’s revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts forecast that ProPetro Holding Corp. will post 0.24 EPS for the current fiscal year.

Insider Transactions at ProPetro

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

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.