Hotchkis & Wiley Capital Management LLC Has $8.07 Million Stake in ProPetro Holding Corp. $PUMP

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in ProPetro Holding Corp. by 32.1%, holding 1,097,420 shares worth approximately $8.07 million.
• A number of hedge funds, including Headlands Technologies LLC and Aigen Investment Management LP, purchased new stakes in ProPetro during the first quarter, indicating increased institutional interest.
• ProPetro reported a quarterly loss with an EPS of (0.07), falling short of analysts’ expectations of $0.03, while revenue also declined by 9.2% year-over-year.

Hotchkis & Wiley Capital Management LLC lessened its stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 32.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,097,420 shares of the company's stock after selling 517,920 shares during the period. Hotchkis & Wiley Capital Management LLC owned 1.06% of ProPetro worth $8,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PUMP. Headlands Technologies LLC purchased a new stake in shares of ProPetro in the first quarter valued at about $32,000. Aigen Investment Management LP purchased a new stake in ProPetro in the 1st quarter worth about $80,000. Teacher Retirement System of Texas bought a new stake in shares of ProPetro in the first quarter valued at approximately $89,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in ProPetro during the 1st quarter valued at $91,000. Finally, Raymond James Financial Inc. bought a new stake in shares of ProPetro during the fourth quarter valued at about $94,000. Institutional investors own 84.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PUMP shares. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the stock a "buy" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lowered their price objective 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, Piper Sandler cut their target price on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.80.

ProPetro Price Performance

Shares of ProPetro stock opened at $4.9090 on Monday. The stock's fifty day moving average is $5.73 and its 200 day moving average is $6.24. The stock has a market cap of $510.39 million, a P/E ratio of -3.34 and a beta of 1.18. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42. ProPetro Holding Corp. has a one year low of $4.51 and a one year high of $11.17.

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

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.

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