65,646 Shares in ProPetro Holding Corp. $PUMP Acquired by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds LLC acquired 65,646 shares of ProPetro Holding Corp., valued at approximately $392,000, increasing its ownership to about 0.06% of the company.
• A significant portion of ProPetro's stock, approximately 84.70%, is held by institutional investors and hedge funds, indicating strong institutional interest.
• ProPetro's recent earnings report showed a loss of ($0.07) per share, missing the consensus estimate, and a revenue decline of 9.2% year-over-year, raising concerns about its financial performance.

Counterpoint Mutual Funds LLC purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 65,646 shares of the company's stock, valued at approximately $392,000. Counterpoint Mutual Funds LLC owned approximately 0.06% of ProPetro as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PUMP. Hsbc Holdings PLC boosted its stake in shares of ProPetro by 3.5% during the 1st quarter. Hsbc Holdings PLC now owns 49,858 shares of the company's stock worth $371,000 after acquiring an additional 1,675 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of ProPetro by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company's stock valued at $379,000 after purchasing an additional 2,230 shares during the period. Jane Street Group LLC increased its stake in ProPetro by 1.4% in the 1st 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. New York State Common Retirement Fund raised its holdings 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. Finally, Quarry LP purchased a new stake in ProPetro during the first quarter valued at about $25,000. Institutional investors and hedge funds own 84.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PUMP shares. Stifel Nicolaus set a $10.00 price target on shares of ProPetro and gave the company a "buy" rating in a report on Wednesday, July 16th. Piper Sandler cut their target price on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Citigroup reduced their target price on ProPetro from $6.50 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, September 9th. Zacks Research downgraded ProPetro from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. Finally, JPMorgan Chase & Co. reduced their price objective on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ProPetro has a consensus rating of "Hold" and a consensus target price of $7.80.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $5.10 on Wednesday. The firm has a market cap of $529.73 million, a price-to-earnings ratio of -3.47 and a beta of 1.13. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year 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 business has a fifty day simple moving average of $5.09 and a 200 day simple moving average of $5.71.

ProPetro (NYSE:PUMP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.10). ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.The firm had revenue of $326.15 million during the quarter, compared to analyst estimates of $331.26 million. During the same period in the previous year, the company earned ($0.03) earnings per share. The business's revenue for the quarter was down 9.2% on a year-over-year basis. As a group, sell-side analysts predict that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

About ProPetro

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.

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