Vanguard Group Inc. Sells 513,277 Shares of ProPetro Holding Corp. $PUMP

Vanguard Group Inc. decreased its holdings in ProPetro Holding Corp. (NYSE:PUMP) by 8.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,903,876 shares of the company’s stock after selling 513,277 shares during the period. Vanguard Group Inc. owned about 5.68% of ProPetro worth $56,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PUMP. Sourcerock Group LLC increased its holdings in shares of ProPetro by 66.4% in the 2nd quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock worth $50,198,000 after purchasing an additional 3,355,848 shares in the last quarter. VR Advisory Services Ltd increased its holdings in shares of ProPetro by 213.2% in the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after purchasing an additional 2,504,634 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of ProPetro by 209.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock worth $14,170,000 after purchasing an additional 1,830,399 shares in the last quarter. Millennium Management LLC increased its holdings in shares of ProPetro by 382.7% in the 3rd quarter. Millennium Management LLC now owns 2,215,896 shares of the company’s stock worth $11,611,000 after purchasing an additional 1,756,812 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of ProPetro by 103.4% in the third quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock worth $8,636,000 after acquiring an additional 837,776 shares during the period. Institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

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

ProPetro Price Performance

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

ProPetro (NYSE:PUMP) last released its earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate 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%.ProPetro’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 earnings per share. Sell-side analysts predict that ProPetro Holding Corp. will post -0.1 earnings per share for the current year.

ProPetro Company Profile

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.