ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by Fisher Asset Management LLC


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Fisher Asset Management LLC reduced its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,643,642 shares of the company’s stock after selling 87,936 shares during the quarter. Fisher Asset Management LLC owned approximately 1.61% of ProPetro worth $17,521,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PUMP. Sei Investments Co. increased its stake in ProPetro by 11.0% in the third 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 during the last quarter. Strs Ohio grew its position in ProPetro by 13.3% during the third quarter. Strs Ohio now owns 118,300 shares of the company’s stock valued at $480,000 after acquiring an additional 13,900 shares during the period. Nisa Investment Advisors LLC grew its position in ProPetro by 66.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 221,500 shares of the company’s stock valued at $1,637,000 after acquiring an additional 88,820 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in ProPetro during the fourth quarter valued at about $328,000. Finally, HighMark Wealth Management LLC purchased a new stake in ProPetro during the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 78.51% of the company’s stock.

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

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

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

In related news, insider Samuel D. Sledge sold 19,099 shares of the stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $11.56, for a total value 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 approximately $252,470.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Spencer D. Armour III sold 32,947 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 55,126 shares of the company’s stock, valued at $592,604.50. The disclosure for this sale can be found here. Corporate 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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