Arrowstreet Capital Limited Partnership Grows Stock Position in ProPetro Holding Corp. $PUMP

Key Points

• Arrowstreet Capital increased its ProPetro stake by 10.1% in the first quarter, adding 316,022 shares to own 3.45 million shares valued at approximately $49.7 million, or 2.81% of the company.
• Institutional ownership remains high at 84.7%, with several major investors—including Millennium Management and Goldman Sachs—also increasing their positions.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $18.25 versus the stock’s reported $10.80 opening price; however, ProPetro’s quarterly revenue declined 24.6% year over year and the company remained unprofitable.

Arrowstreet Capital Limited Partnership increased its stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 10.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,449,379 shares of the company's stock after purchasing an additional 316,022 shares during the quarter. Arrowstreet Capital Limited Partnership owned 2.81% of ProPetro worth $49,706,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of ProPetro by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company's stock worth $379,000 after buying an additional 2,230 shares during the period. Millennium Management LLC lifted its stake in ProPetro by 44.6% in the first quarter. Millennium Management LLC now owns 735,731 shares of the company's stock worth $5,408,000 after acquiring an additional 226,914 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in ProPetro by 16,264.8% during the 1st quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company's stock worth $198,000 after acquiring an additional 26,837 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in ProPetro by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company's stock worth $4,483,000 after acquiring an additional 21,519 shares in the last quarter. Finally, Caxton Associates LLP purchased a new stake in shares of ProPetro in the 1st quarter valued at approximately $272,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PUMP. The Goldman Sachs Group restated a "neutral" rating and issued a $16.00 price objective on shares of ProPetro in a report on Wednesday, June 3rd. Weiss Ratings lowered ProPetro from a "sell (d+)" rating to a "sell (d-)" rating in a report on Monday, May 4th. Odeon Capital Group began coverage on ProPetro in a research note on Thursday, May 28th. They issued a "buy" rating on the stock. Piper Sandler lifted their price target on ProPetro from $17.00 to $20.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Finally, Citigroup upped 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 research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $18.25.

ProPetro Price Performance

Shares of NYSE:PUMP opened at $10.80 on Tuesday. The company's fifty day moving average price is $14.43 and its 200 day moving average price is $13.65. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $18.50. 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 firm has a market capitalization of $1.32 billion, a P/E ratio of -98.15 and a beta of 0.72.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. ProPetro's revenue for the quarter was down 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, sell-side analysts predict that ProPetro Holding Corp. will post -0.02 earnings per share for the current fiscal 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.

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