68,510 Shares in ProPetro Holding Corp. $PUMP Purchased by Algert Global LLC

Key Points

• Algert Global LLC recently acquired a new stake in ProPetro Holding Corp., purchasing 68,510 shares valued at approximately $504,000.
• ProPetro's share price rose by 6.7%, with the stock currently trading at around $4.91, after reaching a 52-week low of $4.51 and a high of $11.17.
• The company's recent earnings report showed a quarter with a net margin of -11.10% and a missed EPS consensus estimate, indicating performance challenges amidst a revenue drop of 9.2% year-over-year.

Algert Global LLC acquired a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 68,510 shares of the company's stock, valued at approximately $504,000. Algert Global LLC owned 0.07% of ProPetro at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC raised its holdings in shares of ProPetro by 2.5% in the fourth quarter. MetLife Investment Management LLC now owns 52,933 shares of the company's stock worth $494,000 after buying an additional 1,270 shares during the period. New York State Common Retirement Fund raised its holdings in shares of ProPetro by 14.0% in the first 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. Mariner LLC raised its holdings in shares of ProPetro by 23.4% in the fourth quarter. Mariner LLC now owns 22,687 shares of the company's stock worth $212,000 after buying an additional 4,304 shares during the period. Headlands Technologies LLC purchased a new stake in shares of ProPetro in the first quarter worth approximately $32,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of ProPetro by 16.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,702 shares of the company's stock worth $324,000 after buying an additional 4,996 shares during the period. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Stock Up 6.7%

Shares of NYSE:PUMP opened at $4.9090 on Monday. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $11.17. The stock has a market cap of $510.39 million, a P/E ratio of -3.34 and a beta of 1.18. The business's 50 day moving average is $5.73 and its 200 day moving average is $6.24. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.07.

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

Analyst Upgrades and Downgrades

PUMP has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Stifel Nicolaus set a $10.00 price target on ProPetro and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, Piper Sandler reduced their price target on ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $8.80.

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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