Cooper Creek Partners Management LLC Acquires New Holdings in ProPetro Holding Corp. $PUMP

Key Points

• Cooper Creek Partners Management disclosed a new first-quarter stake in ProPetro Holding Corp., buying 2.97 million shares valued at about $42.7 million. The position represents roughly 1.5% of its portfolio and 2.42% of ProPetro’s shares outstanding at quarter-end.
• Institutional ownership in ProPetro remains high, with several other funds also adding positions. The article notes that 84.70% of the stock is held by institutional investors.
• Analysts remain generally positive on PUMP, with a Moderate Buy consensus and an average price target of $18.25. Meanwhile, ProPetro shares were down 4.3% and last traded at $11.78.

Cooper Creek Partners Management LLC bought a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,966,561 shares of the company's stock, valued at approximately $42,748,000. ProPetro comprises approximately 1.5% of Cooper Creek Partners Management LLC's portfolio, making the stock its 25th biggest holding. Cooper Creek Partners Management LLC owned about 2.42% of ProPetro at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL bought a new position in shares of ProPetro during the 3rd quarter valued at $2,280,000. Y Intercept Hong Kong Ltd bought a new stake in ProPetro in the first quarter worth $2,045,000. Jefferies Financial Group Inc. acquired a new position in ProPetro during the fourth quarter worth $3,085,000. First Eagle Investment Management LLC increased its position in ProPetro by 7.5% during the fourth quarter. First Eagle Investment Management LLC now owns 487,333 shares of the company's stock worth $4,635,000 after buying an additional 34,000 shares during the last quarter. Finally, SIR Capital Management L.P. raised its holdings in ProPetro by 1,374.3% during the fourth quarter. SIR Capital Management L.P. now owns 1,346,074 shares of the company's stock valued at $12,801,000 after buying an additional 1,254,774 shares in the last quarter. 84.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PUMP shares. Stifel Nicolaus set a $23.00 price target on ProPetro in a research report on Thursday, July 2nd. Bank of America started coverage on ProPetro in a report on Monday, March 30th. They set a "buy" rating and a $18.00 price objective on the stock. Barclays raised ProPetro from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $14.00 to $23.00 in a research note on Thursday, May 7th. Weiss Ratings lowered ProPetro from a "sell (d+)" rating to a "sell (d-)" rating in a report on Monday, May 4th. Finally, Citigroup upped their target price on ProPetro from $16.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.25.

ProPetro Stock Down 4.3%

ProPetro stock opened at $11.78 on Friday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -107.05 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.64 and a quick ratio of 1.57. ProPetro Holding Corp. has a fifty-two week low of $4.51 and a fifty-two week high of $18.50. The firm has a fifty day moving average price of $14.57 and a two-hundred day moving average price of $13.61.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.09. The company had revenue of $270.69 million during the quarter, compared to analysts' expectations of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The business's quarterly revenue was down 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. As a group, analysts forecast that ProPetro Holding Corp. will post -0.02 earnings per share for the current year.

About ProPetro

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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