Charles Schwab Investment Management Inc. Grows Stock Position in ProPetro Holding Corp. $PUMP

Key Points

• Charles Schwab Investment Management Inc. increased its stake in ProPetro Holding Corp. by 6.1%, owning 1,114,259 shares valued at approximately $8.19 million by the end of the first quarter.
• ProPetro's recent earnings report showed a loss of ($0.07) EPS, missing consensus estimates, with revenue of $326.15 million down 9.2% year-over-year.
• Research analysts currently maintain a consensus rating of "Hold" for ProPetro, with a price target of $8.80, despite varying target prices from different firms.

Charles Schwab Investment Management Inc. raised its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 6.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,114,259 shares of the company's stock after purchasing an additional 63,686 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.07% of ProPetro worth $8,190,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PUMP. Wells Fargo & Company MN grew its stake in ProPetro by 82.9% during the 4th quarter. Wells Fargo & Company MN now owns 76,870 shares of the company's stock valued at $717,000 after purchasing an additional 34,831 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ProPetro in the 4th quarter worth approximately $94,000. Mariner LLC grew its position in shares of ProPetro by 23.4% in the 4th quarter. Mariner LLC now owns 22,687 shares of the company's stock worth $212,000 after acquiring an additional 4,304 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of ProPetro in the 4th quarter worth approximately $502,000. Finally, MetLife Investment Management LLC grew its position in shares of ProPetro by 2.5% in the 4th quarter. MetLife Investment Management LLC now owns 52,933 shares of the company's stock worth $494,000 after acquiring an additional 1,270 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

ProPetro Stock Up 0.7%

Shares of ProPetro stock opened at $4.9550 on Tuesday. The business's fifty day moving average price is $5.70 and its two-hundred day moving average price is $6.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.42 and a quick ratio of 1.35. The company has a market capitalization of $515.17 million, a P/E ratio of -3.37 and a beta of 1.18. ProPetro Holding Corp. has a 1-year low of $4.51 and a 1-year high of $11.17.

ProPetro (NYSE:PUMP - Get Free Report) last announced 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). The business 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.03) EPS. As a group, research analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Wall Street Analysts Forecast Growth

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