AlphaQuest LLC Raises Stock Position in ProPetro Holding Corp. $PUMP

Key Points

• AlphaQuest LLC has significantly increased its stake in ProPetro Holding Corp. by 1,959.9%, now owning 66,122 shares valued at approximately $486,000.
• ProPetro's stock currently holds a consensus rating of "Hold" with a price target averaging $8.80, despite recent performance indicating a 9.2% decline in year-over-year revenue.
• The company's last quarterly earnings report indicated a loss of ($0.07) per share, missing analyst expectations, with revenues also falling short of estimates at $326.15 million.

AlphaQuest LLC lifted its stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 1,959.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,122 shares of the company's stock after acquiring an additional 62,912 shares during the quarter. AlphaQuest LLC owned 0.06% of ProPetro worth $486,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PUMP. Headlands Technologies LLC acquired a new position in shares of ProPetro during the first quarter worth $32,000. Aigen Investment Management LP acquired a new position in shares of ProPetro during the first quarter worth $80,000. Teacher Retirement System of Texas acquired a new position in shares of ProPetro during the first quarter worth $89,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of ProPetro during the first quarter worth $91,000. Finally, Raymond James Financial Inc. acquired a new position in ProPetro in the fourth quarter valued at $94,000. Institutional investors and hedge funds own 84.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PUMP. Piper Sandler decreased their price objective on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Stifel Nicolaus set a $10.00 price objective on shares of ProPetro and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, ProPetro currently has a consensus rating of "Hold" and an average target price of $8.80.

ProPetro Stock Performance

Shares of NYSE:PUMP traded up $0.08 on Friday, reaching $5.11. The company's stock had a trading volume of 1,614,777 shares, compared to its average volume of 1,971,549. The stock has a market capitalization of $530.77 million, a P/E ratio of -3.47 and a beta of 1.18. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $11.17. The stock's 50-day moving average is $5.56 and its two-hundred day moving average is $6.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35.

ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly 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 firm had revenue of $326.15 million for the quarter, compared to analysts' expectations of $331.26 million. ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.The company's revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) earnings per share. As a group, sell-side analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current 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.