Healthcare of Ontario Pension Plan Trust Fund Acquires 1,403,600 Shares of ProPetro Holding Corp. $PUMP

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its ProPetro stake by 561.4%, acquiring 1,403,600 additional shares for a total of 1,653,600 shares, worth approximately $23.8 million. Institutional investors collectively own 84.7% of the company.
• Analyst sentiment is generally positive, with seven Buy ratings, two Holds and one Sell; ProPetro has a “Moderate Buy” consensus rating and an average price target of $18.25.
• ProPetro shares opened at $11.78, while the company reported a quarterly loss of $0.03 per share and revenue of $270.7 million, down 24.6% year over year.

Healthcare of Ontario Pension Plan Trust Fund raised its holdings in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 561.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,653,600 shares of the company's stock after acquiring an additional 1,403,600 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 1.35% of ProPetro worth $23,828,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its holdings in ProPetro by 10.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,449,379 shares of the company's stock valued at $49,706,000 after purchasing an additional 316,022 shares during the period. Caxton Associates LLP raised its position in ProPetro by 55.2% during the 1st quarter. Caxton Associates LLP now owns 96,048 shares of the company's stock worth $1,384,000 after purchasing an additional 34,162 shares during the last quarter. Sei Investments Co. lifted its holdings in ProPetro by 113.7% during the 1st quarter. Sei Investments Co. now owns 534,059 shares of the company's stock worth $7,696,000 after buying an additional 284,109 shares during the period. State of Wyoming bought a new stake in shares of ProPetro in the 1st quarter valued at about $83,000. Finally, Dimensional Fund Advisors LP grew its position in shares of ProPetro by 14.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,481,970 shares of the company's stock valued at $93,408,000 after buying an additional 831,823 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PUMP. Piper Sandler increased their price target on ProPetro from $17.00 to $20.00 and gave the company an "overweight" rating in a research note on Monday, May 18th. Bank of America began coverage on shares of ProPetro in a research report on Monday, March 30th. They set a "buy" rating and a $18.00 target price for the company. Weiss Ratings lowered shares of ProPetro from a "sell (d+)" rating to a "sell (d-)" rating in a report on Monday, May 4th. Barclays upgraded shares of ProPetro from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $14.00 to $23.00 in a research report on Thursday, May 7th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $16.00 price objective on shares of ProPetro in a research note on Wednesday, June 3rd. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ProPetro has an average rating of "Moderate Buy" and an average price target of $18.25.

ProPetro Stock Down 0.2%

Shares of ProPetro stock opened at $11.78 on Monday. 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 stock's 50-day moving average is $14.57 and its 200 day moving average is $13.64. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -107.05 and a beta of 0.72.

ProPetro (NYSE:PUMP - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.09. The business had revenue of $270.69 million during the quarter, compared to the consensus estimate of $277.49 million. ProPetro had a negative return on equity of 1.43% and a negative net margin of 1.05%.The firm's revenue for the quarter was down 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 earnings per share. Equities research analysts anticipate that ProPetro Holding Corp. will post -0.02 EPS for the current 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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