Fisher Asset Management LLC Cuts Holdings in ProPetro Holding Corp. (NYSE:PUMP)


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Fisher Asset Management LLC lessened its stake in ProPetro Holding Corp. (NYSE:PUMP) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,643,642 shares of the company’s stock after selling 87,936 shares during the period. Fisher Asset Management LLC owned approximately 1.61% of ProPetro worth $17,521,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PUMP. Sei Investments Co. boosted its stake in shares of ProPetro by 11.0% in the 3rd quarter. Sei Investments Co. now owns 57,471 shares of the company’s stock valued at $233,000 after purchasing an additional 5,699 shares in the last quarter. Strs Ohio boosted its stake in shares of ProPetro by 13.3% in the 3rd quarter. Strs Ohio now owns 118,300 shares of the company’s stock valued at $480,000 after purchasing an additional 13,900 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of ProPetro by 66.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 221,500 shares of the company’s stock valued at $1,637,000 after purchasing an additional 88,820 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of ProPetro in the 4th quarter valued at $328,000. Finally, HighMark Wealth Management LLC purchased a new stake in shares of ProPetro in the 4th quarter valued at $44,000. 78.51% of the stock is owned by institutional investors.

Shares of PUMP stock opened at $10.72 on Tuesday. ProPetro Holding Corp. has a one year low of $3.58 and a one year high of $13.99. The company’s 50-day moving average is $10.47 and its 200 day moving average is $8.82. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -26.15 and a beta of 3.48.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Monday, February 22nd. The company reported ($0.44) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.24). The firm had revenue of $154.34 million for the quarter, compared to analysts’ expectations of $152.76 million. ProPetro had a negative net margin of 3.76% and a negative return on equity of 0.92%. The business’s revenue for the quarter was down 64.5% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. As a group, analysts anticipate that ProPetro Holding Corp. will post -0.39 EPS for the current year.

A number of equities research analysts recently commented on PUMP shares. B. Riley upped their price target on shares of ProPetro from $9.50 to $12.50 and gave the company a “neutral” rating in a report on Thursday, March 4th. Citigroup upped their price target on shares of ProPetro from $9.00 to $14.00 in a report on Tuesday, March 2nd. Stifel Nicolaus reiterated a “buy” rating on shares of ProPetro in a report on Wednesday, January 27th. Finally, Wolfe Research lowered shares of ProPetro from a “peer perform” rating to an “underperform” rating in a report on Monday, January 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. ProPetro has a consensus rating of “Hold” and a consensus price target of $8.32.

In other ProPetro news, insider Samuel D. Sledge sold 19,099 shares of ProPetro stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $11.56, for a total transaction of $220,784.44. Following the completion of the transaction, the insider now directly owns 21,840 shares of the company’s stock, valued at $252,470.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Spencer D. Armour III sold 32,947 shares of ProPetro stock in a transaction on Tuesday, April 6th. The stock was sold at an average price of $10.75, for a total value of $354,180.25. Following the sale, the director now owns 55,126 shares of the company’s stock, valued at $592,604.50. The disclosure for this sale can be found here. Company insiders own 4.60% of the company’s stock.

ProPetro Company Profile

ProPetro Holding Corp., an oilfield services company, provides pressure pumping and other related services. The company operates through Pressure Pumping and All Other segments. The company offers hydraulic fracturing, cementing, acidizing, and coiled tubing services. It serves the upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources in the Permian Basin.

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Institutional Ownership by Quarter for ProPetro (NYSE:PUMP)

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