ProPetro Holding Corp. $PUMP Holdings Decreased by Towle & Co.

Key Points

• Towle & Co. cut its ProPetro Holding stake by 37.1% in the first quarter, selling 398,151 shares and leaving it with 676,403 shares worth about $9.75 million.
• Analyst sentiment has turned more positive, with recent upgrades from Barclays, Piper Sandler, and Citigroup; the stock now carries a Moderate Buy consensus and a $18.25 target price.
• ProPetro reported a smaller-than-expected quarterly loss of $0.03 EPS, beating estimates, though revenue of $270.69 million still declined 24.6% year over year.

Towle & Co. lowered its stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 676,403 shares of the company's stock after selling 398,151 shares during the quarter. ProPetro comprises approximately 3.8% of Towle & Co.'s investment portfolio, making the stock its 2nd largest holding. Towle & Co. owned about 0.55% of ProPetro worth $9,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Wyoming acquired a new stake in ProPetro in the 1st quarter worth approximately $83,000. Aster Capital Management DIFC Ltd purchased a new position in shares of ProPetro in the fourth quarter worth $56,000. Raymond James Financial Inc. acquired a new stake in ProPetro during the 2nd quarter worth about $60,000. Tower Research Capital LLC TRC lifted its holdings in shares of ProPetro by 70.5% during the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company's stock worth $64,000 after purchasing an additional 4,461 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in shares of ProPetro in the 3rd quarter valued at $57,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on PUMP. Piper Sandler increased their price target on shares of ProPetro from $17.00 to $20.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Barclays raised shares of ProPetro from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $14.00 to $23.00 in a research note on Thursday, May 7th. Weiss Ratings downgraded shares of ProPetro from a "sell (d+)" rating to a "sell (d-)" rating in a report on Monday, May 4th. Citigroup increased their target price on shares of ProPetro from $16.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $16.00 target price 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 given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.25.

ProPetro Stock Performance

NYSE PUMP opened at $12.30 on Friday. The business's 50-day moving average price is $14.68 and its 200 day moving average price is $13.63. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $18.50. The firm has a market cap of $1.51 billion, a P/E ratio of -111.86 and a beta of 0.72. The company has a quick ratio of 1.57, a current ratio of 1.64 and a debt-to-equity ratio of 0.08.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.09. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. The firm had revenue of $270.69 million during the quarter, compared to the consensus estimate of $277.49 million. During the same quarter last year, the firm earned $0.09 earnings per share. The firm's revenue was down 24.6% compared to the same quarter last year. On average, equities research analysts expect that ProPetro Holding Corp. will post -0.02 earnings per share 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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