Empowered Funds LLC Has $16.28 Million Stock Position in ProPetro Holding Corp. $PUMP

Key Points

• Empowered Funds LLC increased its ProPetro position by 44.4% in the first quarter, acquiring 347,304 additional shares for a total stake valued at approximately $16.28 million. Institutional investors and hedge funds collectively own 84.7% of PUMP.
• Analyst sentiment is generally positive, with seven Buy ratings, two Holds and one Sell; ProPetro has a “Moderate Buy” consensus and an average price target of $18.25, well above its recent $10.70 price.
• ProPetro beat first-quarter earnings expectations, reporting a loss of $0.03 per share versus the anticipated $0.12 loss, but revenue fell 24.6% year over year to $270.69 million and the company remained unprofitable.

Empowered Funds LLC boosted its position in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 44.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,130,021 shares of the company's stock after purchasing an additional 347,304 shares during the quarter. Empowered Funds LLC owned about 0.92% of ProPetro worth $16,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of ProPetro by 4.5% during the 1st 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 holdings in ProPetro by 44.6% in the first quarter. Millennium Management LLC now owns 735,731 shares of the company's stock valued at $5,408,000 after buying an additional 226,914 shares during the period. Jones Financial Companies Lllp boosted its stake in ProPetro by 16,264.8% in the first quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company's stock valued at $198,000 after acquiring an additional 26,837 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in ProPetro by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company's stock valued at $4,483,000 after acquiring an additional 21,519 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in ProPetro during the 1st quarter worth $272,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PUMP has been the topic of several recent research reports. The Goldman Sachs Group restated a "neutral" rating and issued a $16.00 price target on shares of ProPetro in a research report on Wednesday, June 3rd. Piper Sandler upped their price objective on ProPetro from $17.00 to $20.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Weiss Ratings lowered ProPetro from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Monday, May 4th. Odeon Capital Group assumed coverage on ProPetro in a report on Thursday, May 28th. They set a "buy" rating on the stock. Finally, Citigroup boosted 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 issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.25.

ProPetro Trading Down 0.8%

NYSE PUMP opened at $10.70 on Wednesday. ProPetro Holding Corp. has a one year low of $4.51 and a one year 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 cap of $1.31 billion, a P/E ratio of -97.30 and a beta of 0.72. The stock's 50-day moving average is $14.28 and its 200-day moving average is $13.66.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share 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 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 quarter in the prior year, the company earned $0.09 earnings per share. Sell-side analysts anticipate that ProPetro Holding Corp. will post -0.02 earnings per share for the current fiscal year.

ProPetro 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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