Inspire Investing LLC Grows Holdings in ProPetro Holding Corp. $PUMP

Inspire Investing LLC grew its stake in ProPetro Holding Corp. (NYSE:PUMP) by 40.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 65,138 shares of the company’s stock after acquiring an additional 18,804 shares during the period. Inspire Investing LLC owned about 0.06% of ProPetro worth $389,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PUMP. New Age Alpha Advisors LLC increased its stake in ProPetro by 57.8% during the 1st quarter. New Age Alpha Advisors LLC now owns 172,403 shares of the company’s stock worth $1,267,000 after buying an additional 63,120 shares during the period. Teacher Retirement System of Texas purchased a new stake in ProPetro during the 1st quarter worth approximately $89,000. Principal Financial Group Inc. increased its stake in ProPetro by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 395,202 shares of the company’s stock worth $2,905,000 after buying an additional 10,434 shares during the period. GAMMA Investing LLC increased its stake in ProPetro by 714.0% during the 1st quarter. GAMMA Investing LLC now owns 36,191 shares of the company’s stock worth $266,000 after buying an additional 31,745 shares during the period. Finally, New York State Common Retirement Fund increased its stake in ProPetro by 14.0% during the 1st quarter. New York State Common Retirement Fund now owns 26,796 shares of the company’s stock worth $197,000 after buying an additional 3,298 shares during the period. 84.70% of the stock is owned by hedge funds and other institutional investors.

ProPetro Trading Up 2.7%

Shares of ProPetro stock opened at $5.26 on Thursday. The company has a fifty day simple moving average of $5.00 and a 200-day simple moving average of $5.52. ProPetro Holding Corp. has a 12-month low of $4.51 and a 12-month high of $11.17. The company has a current ratio of 1.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07. The stock has a market cap of $546.78 million, a price-to-earnings ratio of -3.58 and a beta of 1.00.

ProPetro (NYSE:PUMP) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. The business had revenue of $326.15 million during the quarter, compared to analysts’ expectations of $331.26 million. During the same quarter last year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, equities analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays reaffirmed an “equal weight” rating and set a $5.00 target price (down from $6.00) on shares of ProPetro in a research note on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of ProPetro in a report on Wednesday, October 8th. Citigroup boosted their price target on shares of ProPetro from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, October 8th. Stifel Nicolaus set a $10.00 price target on shares of ProPetro and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, Piper Sandler lowered their price target on shares of ProPetro from $7.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ProPetro currently has a consensus rating of “Reduce” and an average price target of $6.80.

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.