Prudential Financial Inc. Has $2.26 Million Position in ProPetro Holding Corp. $PUMP

Prudential Financial Inc. increased its stake in ProPetro Holding Corp. by 256.5% in Q2, owning 377,904 shares valued at $2.26 million. Other institutional investors also adjusted their positions. Analysts have mixed ratings on ProPetro, with a consensus "Hold" rating and a price target of $11.00. ProPetro's stock rose 5.8% to $11.11, with a market cap of $1.15 billion. The company reported a Q3 EPS of ($0.02), beating estimates, and revenue of $293.92 million, down 18.6% year-over-year.

Prudential Financial Inc. raised its position in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 256.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 377,904 shares of the company's stock after purchasing an additional 271,906 shares during the quarter. Prudential Financial Inc. owned 0.36% of ProPetro worth $2,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of ProPetro by 36.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,968 shares of the company's stock valued at $154,000 after buying an additional 5,627 shares during the period. Mackenzie Financial Corp bought a new stake in ProPetro during the 1st quarter worth approximately $107,000. New Age Alpha Advisors LLC grew its holdings in ProPetro by 57.8% during the 1st quarter. New Age Alpha Advisors LLC now owns 172,403 shares of the company's stock worth $1,267,000 after acquiring an additional 63,120 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in ProPetro by 6.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,114,259 shares of the company's stock valued at $8,190,000 after acquiring an additional 63,686 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of ProPetro during the first quarter valued at $32,000. 84.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of ProPetro from $6.00 to $12.00 and gave the stock a "neutral" rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ProPetro in a report on Monday. Barclays increased their price target on ProPetro from $5.00 to $10.00 and gave the company an "equal weight" rating in a research note on Monday, November 3rd. Piper Sandler upgraded ProPetro from a "neutral" rating to an "overweight" rating and set a $16.00 price objective for the company in a research report on Monday, November 3rd. Finally, Zacks Research raised ProPetro from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 23rd. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $11.00.

Get Our Latest Stock Report on PUMP

ProPetro Stock Up 5.8%

ProPetro stock opened at $11.11 on Friday. The company has a market capitalization of $1.15 billion, a PE ratio of -65.32 and a beta of 0.80. The firm's fifty day moving average is $8.08 and its 200 day moving average is $6.42. The company has a quick ratio of 1.19, a current ratio of 1.26 and a debt-to-equity ratio of 0.11. ProPetro Holding Corp. has a 12-month low of $4.51 and a 12-month high of $11.66.

ProPetro (NYSE:PUMP - Get Free Report) last issued its earnings results on Wednesday, October 29th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.09. The company had revenue of $293.92 million during the quarter, compared to the consensus estimate of $266.25 million. ProPetro had a negative return on equity of 0.06% and a negative net margin of 1.31%.The firm's revenue for the quarter was down 18.6% compared to the same quarter last year. During the same period last year, the business posted ($1.32) EPS. As a group, sell-side analysts predict that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Insider Transactions at ProPetro

In other news, Director G Larry Lawrence sold 27,000 shares of ProPetro stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $10.84, for a total transaction of $292,680.00. Following the completion of the transaction, the director directly owned 35,831 shares in the company, valued at $388,408.04. This trade represents a 42.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michele Vion sold 6,916 shares of the business's stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $10.64, for a total value of $73,586.24. Following the sale, the director directly owned 45,029 shares of the company's stock, valued at $479,108.56. This represents a 13.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by company insiders.

ProPetro Company Profile

(Free Report)

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.

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