Aventail Capital Group LP Invests $2.89 Million in ProPetro Holding Corp. $PUMP

Aventail Capital Group LP purchased a new position in shares of ProPetro Holding Corp. (NYSE:PUMP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 303,934 shares of the company’s stock, valued at approximately $2,890,000.

A number of other large investors have also made changes to their positions in the business. ProShare Advisors LLC increased its position in shares of ProPetro by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 14,643 shares of the company’s stock worth $139,000 after purchasing an additional 944 shares in the last quarter. FourThought Financial Partners LLC increased its position in shares of ProPetro by 3.1% during the fourth quarter. FourThought Financial Partners LLC now owns 60,830 shares of the company’s stock worth $578,000 after purchasing an additional 1,840 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ProPetro by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock worth $379,000 after purchasing an additional 2,230 shares in the last quarter. Jane Street Group LLC increased its position in shares of ProPetro by 1.4% during the first quarter. Jane Street Group LLC now owns 224,275 shares of the company’s stock worth $1,648,000 after purchasing an additional 3,100 shares in the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of ProPetro by 6.5% during the second quarter. Lazard Asset Management LLC now owns 61,236 shares of the company’s stock worth $364,000 after purchasing an additional 3,732 shares in the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Price Performance

NYSE PUMP opened at $14.88 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57. The stock’s fifty day moving average price is $15.76 and its 200 day moving average price is $12.97. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $18.50. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -135.24 and a beta of 0.70.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.09. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The company had revenue of $270.69 million for the quarter, compared to analyst estimates of $277.49 million. During the same period in the prior year, the company earned $0.09 earnings per share. The firm’s revenue was down 24.6% on a year-over-year basis. As a group, equities research analysts forecast that ProPetro Holding Corp. will post -0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America assumed coverage on ProPetro in a research report on Monday, March 30th. They set a “buy” rating and a $18.00 price target on the stock. Odeon Capital Group began coverage on ProPetro in a research report on Thursday, May 28th. They issued a “buy” rating 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. Citigroup upped their target price on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 target price on shares of ProPetro in a research report on Wednesday, June 3rd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, ProPetro presently has an average rating of “Moderate Buy” and an average target price of $16.63.

ProPetro 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.