ProPetro Holding Corp. (NYSE:PUMP) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP) by 9.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,279,912 shares of the company’s stock after selling 137,559 shares during the period. Van ECK Associates Corp owned 1.19% of ProPetro worth $10,342,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PUMP. Signaturefd LLC grew its holdings in shares of ProPetro by 47.1% during the fourth quarter. Signaturefd LLC now owns 7,935 shares of the company’s stock worth $66,000 after purchasing an additional 2,542 shares during the last quarter. Hsbc Holdings PLC grew its stake in ProPetro by 7.4% during the 3rd quarter. Hsbc Holdings PLC now owns 31,415 shares of the company’s stock worth $334,000 after buying an additional 2,172 shares during the last quarter. Graham Capital Management L.P. acquired a new position in ProPetro during the third quarter worth approximately $314,000. Dimensional Fund Advisors LP lifted its stake in 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 during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of ProPetro by 13.3% in the third quarter. American Century Companies Inc. now owns 1,387,406 shares of the company’s stock valued at $14,748,000 after acquiring an additional 163,363 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Activity

In other ProPetro news, Director Michele Vion sold 7,778 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $9.21, for a total transaction of $71,635.38. Following the transaction, the director now directly owns 39,006 shares in the company, valued at $359,245.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Michele Vion sold 7,778 shares of ProPetro stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $9.21, for a total transaction of $71,635.38. Following the completion of the transaction, the director now directly owns 39,006 shares of the company’s stock, valued at $359,245.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Adam Munoz sold 42,573 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $9.28, for a total value of $395,077.44. Following the completion of the sale, the chief operating officer now directly owns 58,134 shares in the company, valued at approximately $539,483.52. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

ProPetro Stock Performance

Shares of ProPetro stock traded down $0.34 during trading hours on Friday, hitting $8.31. 877,812 shares of the company were exchanged, compared to its average volume of 1,590,980. The business has a 50-day moving average of $9.07 and a 200-day moving average of $8.38. ProPetro Holding Corp. has a 1 year low of $6.99 and a 1 year high of $11.37. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $894.16 million, a price-to-earnings ratio of 12.91 and a beta of 2.10.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.10. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. The company had revenue of $405.84 million during the quarter, compared to the consensus estimate of $393.11 million. During the same quarter in the prior year, the firm earned $0.40 EPS. ProPetro’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, analysts expect that ProPetro Holding Corp. will post 0.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays upped their price target on shares of ProPetro from $12.00 to $13.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Benchmark reaffirmed a “hold” rating on shares of ProPetro in a report on Thursday, May 2nd.

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.