Stanley Laman Group Ltd. Raises Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Stanley Laman Group Ltd. grew its stake in ProPetro Holding Corp. (NYSE:PUMP) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 446,234 shares of the company’s stock after acquiring an additional 33,482 shares during the quarter. Stanley Laman Group Ltd. owned about 0.41% of ProPetro worth $3,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC lifted its position in ProPetro by 84.3% during the third quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after buying an additional 1,473 shares during the period. Quarry LP purchased a new position in ProPetro during the second quarter worth about $40,000. nVerses Capital LLC lifted its position in ProPetro by 226.3% during the third quarter. nVerses Capital LLC now owns 6,200 shares of the company’s stock worth $47,000 after buying an additional 4,300 shares during the period. Chilton Capital Management LLC lifted its position in ProPetro by 87.1% during the second quarter. Chilton Capital Management LLC now owns 8,595 shares of the company’s stock worth $75,000 after buying an additional 4,000 shares during the period. Finally, CWM LLC lifted its position in ProPetro by 17.2% during the third quarter. CWM LLC now owns 8,624 shares of the company’s stock worth $66,000 after buying an additional 1,267 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Stock Performance

Shares of NYSE:PUMP opened at $7.67 on Wednesday. The firm has a market capitalization of $825.29 million, a PE ratio of 11.45 and a beta of 2.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.11 and a quick ratio of 1.04. The business has a 50-day moving average of $7.94 and a two-hundred day moving average of $8.50. ProPetro Holding Corp. has a 12 month low of $6.74 and a 12 month 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 firm had revenue of $357.00 million for the quarter, compared to analyst estimates of $361.85 million. During the same quarter in the prior year, the company earned $0.34 earnings per share. The business’s revenue was down 17.9% compared to the same quarter last year. As a group, research analysts forecast that ProPetro Holding Corp. will post 0.17 earnings per share for the current year.

Insider Activity

In other news, Director Michele Vion sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $8.26, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PUMP shares. Barclays reduced their target price on ProPetro from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Stifel Nicolaus dropped their price target on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, October 11th.

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.