Cooper Creek Partners Management LLC Takes $42.75 Million Position in ProPetro Holding Corp. $PUMP

Cooper Creek Partners Management LLC acquired a new position in ProPetro Holding Corp. (NYSE:PUMP) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 2,966,561 shares of the company’s stock, valued at approximately $42,748,000. ProPetro comprises about 1.5% of Cooper Creek Partners Management LLC’s holdings, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of PUMP. Aster Capital Management DIFC Ltd acquired a new position in ProPetro during the 4th quarter valued at $56,000. Dark Forest Capital Management LP acquired a new stake in ProPetro in the 3rd quarter worth $57,000. Raymond James Financial Inc. acquired a new stake in ProPetro in the 2nd quarter worth $60,000. Tower Research Capital LLC TRC increased its holdings in shares of ProPetro by 70.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock worth $64,000 after purchasing an additional 4,461 shares during the period. Finally, State of Wyoming bought a new position in shares of ProPetro during the 1st quarter worth about $83,000. Institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PUMP shares. Piper Sandler upped their price objective on shares of ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Stifel Nicolaus set a $23.00 target price on ProPetro in a research report on Thursday, July 2nd. Bank of America assumed coverage on ProPetro in a research note on Monday, March 30th. They set a “buy” rating and a $18.00 price target on the stock. Weiss Ratings cut ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Finally, Citigroup raised their price objective on ProPetro from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Seven investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.25.

ProPetro Trading Down 4.3%

Shares of ProPetro stock opened at $11.78 on Friday. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $18.50. The firm has a market capitalization of $1.44 billion, a PE ratio of -107.05 and a beta of 0.72. 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 company’s fifty day moving average price is $14.57 and its two-hundred day moving average price is $13.61.

ProPetro (NYSE:PUMP) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The company had revenue of $270.69 million during the quarter, compared to the consensus estimate of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The firm’s revenue for the quarter was down 24.6% compared to the same quarter last year. During the same period last year, the firm earned $0.09 EPS. On average, analysts expect that ProPetro Holding Corp. will post -0.02 EPS 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.