Raymond James Financial Services Advisors Inc. Sells 14,187 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Raymond James Financial Services Advisors Inc. lowered its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,506 shares of the company’s stock after selling 14,187 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.06% of ProPetro worth $557,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PUMP. BlackRock Inc. lifted its position in shares of ProPetro by 8.8% during the 3rd quarter. BlackRock Inc. now owns 17,847,360 shares of the company’s stock worth $143,672,000 after buying an additional 1,445,598 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of ProPetro by 25.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,750,490 shares of the company’s stock worth $48,536,000 after purchasing an additional 1,381,397 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of ProPetro during the 3rd quarter worth approximately $7,492,000. Invesco Ltd. increased its stake in shares of ProPetro by 94.7% during the 1st quarter. Invesco Ltd. now owns 1,209,464 shares of the company’s stock worth $16,847,000 after purchasing an additional 588,158 shares during the last quarter. Finally, State Street Corp increased its stake in shares of ProPetro by 13.7% during the 1st quarter. State Street Corp now owns 3,903,560 shares of the company’s stock worth $54,377,000 after purchasing an additional 471,850 shares during the last quarter. Institutional investors own 84.70% of the company’s stock.

ProPetro Stock Up 3.1 %

ProPetro stock opened at $8.44 on Friday. ProPetro Holding Corp. has a 1-year low of $6.33 and a 1-year high of $11.37. The firm has a market capitalization of $907.89 million, a price-to-earnings ratio of 11.41 and a beta of 2.13. The company has a current ratio of 1.15, a quick ratio of 1.08 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $7.85 and a 200 day simple moving average of $8.60.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Wednesday, February 21st. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.24). ProPetro had a net margin of 5.25% and a return on equity of 10.26%. The business had revenue of $347.80 million during the quarter, compared to analysts’ expectations of $351.50 million. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that ProPetro Holding Corp. will post 0.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PUMP. Benchmark lowered shares of ProPetro from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. TheStreet lowered shares of ProPetro from a “b-” rating to a “c+” rating in a research note on Monday, January 8th.

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.