ProPetro Holding Corp. $PUMP Shares Acquired by Charles Schwab Investment Management Inc.

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. increased its stake 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 Form 13F filing with the SEC. The fund owned 1,114,259 shares of the company's stock after acquiring an additional 63,686 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.07% of ProPetro worth $8,190,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MetLife Investment Management LLC raised its stake 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 valued at $494,000 after acquiring an additional 1,270 shares during the period. New York State Common Retirement Fund increased its position 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 valued at $197,000 after purchasing an additional 3,298 shares during the period. 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 buying an additional 4,304 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of ProPetro by 16.8% in the 4th 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 last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of ProPetro by 101.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company's stock worth $98,000 after buying an additional 5,270 shares during the last quarter. Institutional investors own 84.70% of the company's stock.

ProPetro Trading Up 1.5%

Shares of PUMP traded up $0.08 during mid-day trading on Friday, reaching $5.11. The stock had a trading volume of 1,614,777 shares, compared to its average volume of 1,901,111. 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 firm has a market cap of $530.77 million, a price-to-earnings ratio of -3.47 and a beta of 1.13. The business's fifty day moving average is $5.56 and its 200 day moving average is $6.11. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $11.17.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. JPMorgan Chase & Co. decreased their target price 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. Finally, Stifel Nicolaus set a $10.00 price objective on shares of ProPetro and gave the company a "buy" rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.80.

ProPetro Company Profile

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.