Benchmark restated their hold rating on shares of ProPetro (NYSE:PUMP – Free Report) in a research note released on Thursday, Benzinga reports.
Separately, TheStreet downgraded ProPetro from a b- rating to a c+ rating in a research note on Monday, January 8th.
Get Our Latest Stock Analysis on PUMP
ProPetro Stock Up 4.2 %
ProPetro (NYSE:PUMP – Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share 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 analysts’ expectations of $393.11 million. ProPetro had a return on equity of 7.62% and a net margin of 4.76%. The company’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. Equities research analysts predict that ProPetro will post 0.56 earnings per share for the current year.
Institutional Trading of ProPetro
Hedge funds have recently added to or reduced their stakes in the business. 9258 Wealth Management LLC bought a new position in ProPetro in the first quarter worth about $100,000. Mutual Advisors LLC lifted its holdings in shares of ProPetro by 49.5% during the first quarter. Mutual Advisors LLC now owns 182,152 shares of the company’s stock worth $1,472,000 after purchasing an additional 60,334 shares during the period. Jennison Associates LLC acquired a new stake in shares of ProPetro in the first quarter worth $960,000. Hartree Partners LP purchased a new position in shares of ProPetro during the 1st quarter valued at about $3,259,000. Finally, North Star Investment Management Corp. boosted its position in ProPetro by 171.5% in the 1st quarter. North Star Investment Management Corp. now owns 246,000 shares of the company’s stock worth $1,988,000 after purchasing an additional 155,393 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.
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.
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