Corsair Capital Management L.P. Acquires Shares of 50,000 ProPetro Holding Corp. $PUMP

Corsair Capital Management L.P. bought a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the company’s stock, valued at approximately $720,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. State of Wyoming purchased a new position in ProPetro in the first quarter valued at about $83,000. Aster Capital Management DIFC Ltd purchased a new stake in ProPetro during the 4th quarter worth approximately $56,000. Raymond James Financial Inc. purchased a new stake in ProPetro during the 2nd quarter worth approximately $60,000. Tower Research Capital LLC TRC raised its position in shares of ProPetro by 70.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after purchasing an additional 4,461 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of ProPetro in the 3rd quarter valued at approximately $57,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Price Performance

Shares of NYSE PUMP opened at $11.78 on Monday. 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 $1.44 billion, a price-to-earnings ratio of -107.05 and a beta of 0.72. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $18.50. The business has a 50 day simple moving average of $14.57 and a 200-day simple moving average of $13.64.

ProPetro (NYSE:PUMP) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.09. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The firm had revenue of $270.69 million for the quarter, compared to analysts’ expectations of $277.49 million. During the same period last year, the business posted $0.09 earnings per share. The firm’s revenue for the quarter was down 24.6% on a year-over-year basis. As a group, equities research analysts expect that ProPetro Holding Corp. will post -0.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $16.00 price target on shares of ProPetro in a research report on Wednesday, June 3rd. Odeon Capital Group initiated coverage on shares of ProPetro in a report on Thursday, May 28th. They issued a “buy” rating on the stock. Citigroup increased their price objective on shares of ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Barclays raised shares of ProPetro from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $14.00 to $23.00 in a report on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Seven 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.25.

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.