ProPetro’s (PUMP) “Hold” Rating Reaffirmed at Benchmark

Benchmark reiterated their hold rating on shares of ProPetro (NYSE:PUMP) in a research note issued to investors on Thursday, Benzinga reports.

Separately, TheStreet downgraded shares of ProPetro from a b- rating to a c+ rating in a research note on Monday, January 8th.

ProPetro Stock Up 1.4 %

PUMP opened at $9.29 on Thursday. ProPetro has a fifty-two week low of $6.33 and a fifty-two week high of $11.37. The company has a market capitalization of $999.33 million, a P/E ratio of 13.87 and a beta of 2.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.18 and a quick ratio of 1.08. The firm’s fifty day moving average price is $8.06 and its two-hundred day moving average price is $8.49.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.10. The firm had revenue of $405.84 million during the quarter, compared to analyst estimates of $393.11 million. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, analysts anticipate that ProPetro will post 0.56 EPS for the current year.

Hedge Funds Weigh In On ProPetro

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in shares of ProPetro by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,293,490 shares of the company’s stock valued at $61,120,000 after buying an additional 378,379 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in ProPetro by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,686,215 shares of the company’s stock worth $14,130,000 after purchasing an additional 65,517 shares during the last quarter. American Century Companies Inc. lifted its holdings in ProPetro by 13.3% during the 3rd quarter. American Century Companies Inc. now owns 1,387,406 shares of the company’s stock worth $14,748,000 after buying an additional 163,363 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of ProPetro by 9.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,031,150 shares of the company’s stock valued at $10,961,000 after buying an additional 92,032 shares during the period. Finally, Invesco Ltd. raised its position in shares of ProPetro by 10.7% during the third quarter. Invesco Ltd. now owns 1,012,363 shares of the company’s stock worth $10,761,000 after acquiring an additional 97,871 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Company 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.