North Star Investment Management Corp. Has $1.28 Million Stock Holdings in ProPetro Holding Corp. $PUMP

Key Points

• North Star Investment Management Corp. has reduced its holdings in ProPetro Holding Corp. by 18.3%, now owning approximately $1.28 million worth of shares.
• Multiple hedge funds have acquired positions in ProPetro, leading to institutional investors owning 84.70% of the company's stock.
• ProPetro's recent earnings report revealed a loss of ($0.07) per share, missing estimates and showing a 9.2% drop in revenue compared to last year.

North Star Investment Management Corp. decreased its holdings in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 18.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 214,425 shares of the company's stock after selling 48,000 shares during the quarter. North Star Investment Management Corp. owned 0.21% of ProPetro worth $1,280,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PUMP. Nuveen LLC acquired a new position in shares of ProPetro in the 1st quarter valued at $11,757,000. VR Advisory Services Ltd acquired a new stake in shares of ProPetro during the 1st quarter worth about $8,634,000. Pacer Advisors Inc. acquired a new stake in shares of ProPetro during the 1st quarter worth about $7,401,000. Philosophy Capital Management LLC increased its position in shares of ProPetro by 23.2% during the 1st quarter. Philosophy Capital Management LLC now owns 2,820,887 shares of the company's stock worth $20,734,000 after purchasing an additional 531,751 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of ProPetro during the 1st quarter worth about $3,348,000. Institutional investors and hedge funds own 84.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PUMP. Citigroup dropped their target price on shares of ProPetro from $6.50 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, September 9th. Zacks Research cut shares of ProPetro from a "hold" rating to a "strong sell" rating in a research report on Monday, September 1st. Piper Sandler dropped their target price on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, August 14th. Finally, Stifel Nicolaus set a $10.00 price objective on shares of ProPetro and gave the company a "buy" rating in a research report on Wednesday, July 16th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $7.80.

ProPetro Trading Down 1.1%

PUMP opened at $5.26 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $546.88 million, a PE ratio of -3.58 and a beta of 1.13. ProPetro Holding Corp. has a 1-year low of $4.51 and a 1-year high of $11.17. The firm has a 50-day moving average price of $5.07 and a two-hundred day moving average price of $5.69.

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