Towle & Co. Boosts Stock Position in ProPetro Holding Corp. $PUMP

Towle & Co. boosted its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 11.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,129,914 shares of the company’s stock after acquiring an additional 116,260 shares during the quarter. Towle & Co.’s holdings in ProPetro were worth $5,921,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PUMP. GSA Capital Partners LLP lifted its position in shares of ProPetro by 2,382.6% during the third quarter. GSA Capital Partners LLP now owns 277,355 shares of the company’s stock worth $1,453,000 after purchasing an additional 266,183 shares in the last quarter. JPMorgan Chase & Co. increased its stake in ProPetro by 103.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock worth $8,636,000 after buying an additional 837,776 shares during the period. MQS Management LLC purchased a new stake in ProPetro during the 3rd quarter worth approximately $58,000. Profund Advisors LLC lifted its holdings in ProPetro by 14.2% during the 3rd quarter. Profund Advisors LLC now owns 18,958 shares of the company’s stock worth $99,000 after buying an additional 2,355 shares in the last quarter. Finally, State of Wyoming purchased a new position in ProPetro in the 3rd quarter valued at approximately $66,000. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Stock Down 2.3%

Shares of NYSE PUMP opened at $11.23 on Friday. The business has a 50-day moving average of $10.41 and a two-hundred day moving average of $8.16. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 1,123.20 and a beta of 0.77. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $13.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.29 and a quick ratio of 1.19.

ProPetro (NYSE:PUMP) last issued its earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.14. The business had revenue of $289.68 million for the quarter, compared to analyst estimates of $279.90 million. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The business’s quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. On average, analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays reaffirmed a “neutral” rating on shares of ProPetro in a research report on Wednesday, December 17th. Citigroup upped their price target on ProPetro from $6.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. raised shares of ProPetro from a “neutral” rating to an “overweight” rating and raised their target price for the company from $7.00 to $13.00 in a report on Wednesday, December 10th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ProPetro presently has an average rating of “Hold” and an average target price of $12.67.

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.