Vanguard Group Inc. Lowers Holdings in ProPetro Holding Corp. $PUMP

Vanguard Group Inc. trimmed its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 8.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,903,876 shares of the company’s stock after selling 513,277 shares during the period. Vanguard Group Inc. owned 0.06% of ProPetro worth $56,146,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PUMP. Trek Financial LLC purchased a new position in shares of ProPetro in the third quarter valued at about $57,000. Dark Forest Capital Management LP purchased a new position in shares of ProPetro in the third quarter valued at about $57,000. MQS Management LLC purchased a new position in shares of ProPetro in the third quarter valued at about $58,000. Raymond James Financial Inc. purchased a new position in shares of ProPetro in the second quarter valued at about $60,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of ProPetro by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after acquiring an additional 4,461 shares in the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Price Performance

NYSE:PUMP opened at $17.49 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $2.14 billion, a P/E ratio of -158.95 and a beta of 0.75. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $18.50. The business’s 50-day moving average is $14.87 and its 200 day moving average is $11.98.

ProPetro (NYSE:PUMP) last posted its earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The company had revenue of $270.69 million for the quarter, compared to the consensus estimate of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. On average, equities research analysts forecast that ProPetro Holding Corp. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on PUMP shares. The Goldman Sachs Group started coverage on ProPetro in a research report on Friday, April 10th. They issued a “neutral” rating and a $15.00 price objective on the stock. Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $14.00 to $23.00 in a research report on Thursday, May 7th. Bank of America started coverage on ProPetro in a research report on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective on the stock. Weiss Ratings downgraded ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Finally, Citigroup boosted their price objective on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.13.

About ProPetro

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients’ development targets across unconventional plays.

The company’s core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.