Boothbay Fund Management LLC Buys Shares of 85,257 ProPetro Holding Corp. (NYSE:PUMP)

Boothbay Fund Management LLC purchased a new position in ProPetro Holding Corp. (NYSE:PUMP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 85,257 shares of the company’s stock, valued at approximately $795,000. Boothbay Fund Management LLC owned about 0.08% of ProPetro as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in ProPetro by 38.0% in the fourth quarter. GAMMA Investing LLC now owns 4,446 shares of the company’s stock worth $41,000 after acquiring an additional 1,225 shares during the last quarter. MetLife Investment Management LLC boosted its position in ProPetro by 2.5% during the 4th quarter. MetLife Investment Management LLC now owns 52,933 shares of the company’s stock valued at $494,000 after purchasing an additional 1,270 shares during the period. Corient Private Wealth LLC grew its stake in ProPetro by 8.7% during the 4th quarter. Corient Private Wealth LLC now owns 17,591 shares of the company’s stock worth $164,000 after buying an additional 1,405 shares during the last quarter. Ieq Capital LLC grew its stake in ProPetro by 13.0% during the 4th quarter. Ieq Capital LLC now owns 13,604 shares of the company’s stock worth $127,000 after buying an additional 1,564 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in ProPetro by 205.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,983 shares of the company’s stock worth $28,000 after buying an additional 2,005 shares during the period. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Stock Performance

Shares of PUMP opened at $5.58 on Wednesday. The company has a market capitalization of $579.11 million, a PE ratio of -4.16 and a beta of 1.58. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.31. The company’s 50 day moving average price is $6.59 and its 200 day moving average price is $8.03. ProPetro Holding Corp. has a 52 week low of $4.61 and a 52 week high of $11.17.

ProPetro (NYSE:PUMP) last posted its earnings results on Tuesday, April 29th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. ProPetro had a negative net margin of 9.55% and a positive return on equity of 3.20%. The company had revenue of $359.42 million during the quarter, compared to the consensus estimate of $344.36 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The company’s revenue for the quarter was down 11.4% compared to the same quarter last year. Research analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup upped their price target on shares of ProPetro from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Stifel Nicolaus raised their price target on shares of ProPetro from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Barclays reduced their price objective on ProPetro from $12.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, March 3rd. Finally, Benchmark restated a “hold” rating on shares of ProPetro in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.75.

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.