New Age Alpha Advisors LLC Acquires 63,120 Shares of ProPetro Holding Corp. (NYSE:PUMP)

Key Points

• New Age Alpha Advisors LLC increased its holdings in ProPetro Holding Corp. by 57.8%, owning 172,403 shares worth approximately $1.27 million as of its latest SEC filing.
• ProPetro's stock currently has an average rating of "Hold" with a consensus price target of $9.00, despite a recent earnings miss that reported a loss of ($0.07) EPS.
• The company operates as an integrated oilfield services provider primarily in the Permian Basin, offering services such as hydraulic fracturing and cementing.

New Age Alpha Advisors LLC raised its position in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 57.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 172,403 shares of the company's stock after buying an additional 63,120 shares during the period. New Age Alpha Advisors LLC owned 0.17% of ProPetro worth $1,267,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sourcerock Group LLC bought a new stake in shares of ProPetro in the fourth quarter valued at $14,079,000. Bridgeway Capital Management LLC grew its position in ProPetro by 2.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,034,873 shares of the company's stock worth $9,655,000 after buying an additional 27,086 shares in the last quarter. Royce & Associates LP grew its position in ProPetro by 10.3% during the first quarter. Royce & Associates LP now owns 1,027,265 shares of the company's stock worth $7,550,000 after buying an additional 96,126 shares in the last quarter. Pacer Advisors Inc. purchased a new position in ProPetro during the first quarter worth about $7,401,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of ProPetro by 18.2% during the 1st quarter. Bank of New York Mellon Corp now owns 656,315 shares of the company's stock worth $4,824,000 after acquiring an additional 100,858 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company's stock.

ProPetro Trading Up 2.2%

Shares of NYSE:PUMP traded up $0.11 during midday trading on Tuesday, hitting $4.81. 589,453 shares of the stock traded hands, compared to its average volume of 1,799,280. The stock has a market capitalization of $499.58 million, a PE ratio of -3.27 and a beta of 1.18. The business's 50 day moving average is $5.96 and its two-hundred day moving average is $6.51. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.07. ProPetro Holding Corp. has a one year low of $4.60 and a one year high of $11.17.

ProPetro (NYSE:PUMP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate 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 company had revenue of $326.15 million during the quarter, compared to analysts' expectations of $331.26 million. During the same quarter last year, the business earned ($0.03) earnings per share. The business's quarterly revenue was down 9.2% on a year-over-year basis. As a group, research analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

PUMP has been the subject of a number of recent research reports. Piper Sandler initiated coverage on ProPetro in a research note on Monday, July 14th. They issued a "neutral" rating and a $7.00 target price for the company. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. lowered their target price on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, ProPetro currently has a consensus rating of "Hold" and an average price target of $9.00.

ProPetro 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.