Public Sector Pension Investment Board Acquires 53,817 Shares of ProPetro Holding Corp. $PUMP

Key Points

• The Public Sector Pension Investment Board increased its stake in ProPetro Holding Corp. by 27.2%, owning approximately 0.24% of the company worth $1.8 million as of the latest SEC filing.
• ProPetro reported a loss of $0.07 EPS for the last quarter, missing the consensus estimate, with a revenue decline of 9.2% year-over-year.
• Analyst ratings for ProPetro show a consensus target price of $8.80, with two "Buy" ratings and four "Hold" ratings from various brokerages.

Public Sector Pension Investment Board lifted its holdings in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 27.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,312 shares of the company's stock after purchasing an additional 53,817 shares during the period. Public Sector Pension Investment Board owned 0.24% of ProPetro worth $1,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nuveen LLC acquired a new stake in shares of ProPetro in the 1st quarter valued at $11,757,000. Aigen Investment Management LP acquired a new stake in shares of ProPetro in the 1st quarter valued at $80,000. Headlands Technologies LLC acquired a new stake in shares of ProPetro in the 1st quarter valued at $32,000. Charles Schwab Investment Management Inc. lifted its stake in shares of ProPetro by 6.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,114,259 shares of the company's stock valued at $8,190,000 after purchasing an additional 63,686 shares during the last quarter. Finally, New Age Alpha Advisors LLC lifted its stake in shares of ProPetro by 57.8% in the 1st quarter. New Age Alpha Advisors LLC now owns 172,403 shares of the company's stock valued at $1,267,000 after purchasing an additional 63,120 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

ProPetro Price Performance

NYSE:PUMP traded down $0.12 during mid-day trading on Tuesday, hitting $4.85. The company's stock had a trading volume of 1,904,356 shares, compared to its average volume of 2,431,309. ProPetro Holding Corp. has a fifty-two week low of $4.51 and a fifty-two week high of $11.17. 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 company has a market capitalization of $503.73 million, a price-to-earnings ratio of -3.30 and a beta of 1.18. The stock has a fifty day moving average of $5.66 and a 200-day moving average of $6.20.

ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly 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). 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 analyst estimates of $331.26 million. During the same period last year, the company earned ($0.03) EPS. The business's revenue for the quarter was down 9.2% on a year-over-year basis. As a group, equities analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PUMP. JPMorgan Chase & Co. cut their target price on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Piper Sandler decreased their price target on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Finally, Stifel Nicolaus set a $10.00 price target on shares of ProPetro and gave the company a "buy" rating in a report on Wednesday, July 16th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, ProPetro currently has a consensus rating of "Hold" and an average target price of $8.80.

About ProPetro

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.