Benchmark reaffirmed their hold rating on shares of ProPetro (NYSE:PUMP – Free Report) in a research note issued to investors on Thursday morning, Benzinga reports.
Separately, TheStreet cut ProPetro from a b- rating to a c+ rating in a research report on Monday, January 8th.
View Our Latest Analysis on ProPetro
ProPetro Stock Performance
ProPetro (NYSE:PUMP – Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.10. ProPetro had a net margin of 4.76% and a return on equity of 7.62%. The business had revenue of $405.84 million during the quarter, compared to analysts’ expectations of $393.11 million. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. As a group, research analysts anticipate that ProPetro will post 0.56 earnings per share for the current year.
Institutional Trading of ProPetro
Several large investors have recently made changes to their positions in PUMP. 9258 Wealth Management LLC bought a new stake in ProPetro during the 1st quarter worth about $100,000. Mutual Advisors LLC increased its position in shares of ProPetro by 49.5% in the 1st quarter. Mutual Advisors LLC now owns 182,152 shares of the company’s stock valued at $1,472,000 after buying an additional 60,334 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of ProPetro in the first quarter worth about $960,000. Hartree Partners LP acquired a new stake in ProPetro during the 1st quarter worth approximately $3,259,000. Finally, North Star Investment Management Corp. lifted its stake in ProPetro by 171.5% in the first quarter. North Star Investment Management Corp. now owns 246,000 shares of the company’s stock valued at $1,988,000 after buying an additional 155,393 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.
About ProPetro
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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