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

Several other hedge funds have also recently added to or reduced their stakes in the stock. MetLife Investment Management LLC lifted its stake in ProPetro by 2.5% in the fourth quarter. MetLife Investment Management LLC now owns 52,933 shares of the company's stock valued at $494,000 after buying an additional 1,270 shares during the period. New York State Common Retirement Fund lifted its stake in ProPetro by 14.0% in the first quarter. New York State Common Retirement Fund now owns 26,796 shares of the company's stock valued at $197,000 after buying an additional 3,298 shares during the period. Mariner LLC increased its holdings in shares of ProPetro by 23.4% in the fourth quarter. Mariner LLC now owns 22,687 shares of the company's stock worth $212,000 after acquiring an additional 4,304 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of ProPetro during the first quarter worth about $32,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of ProPetro by 16.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,702 shares of the company's stock worth $324,000 after purchasing an additional 4,996 shares during the period. Institutional investors and hedge funds own 84.70% of the company's stock.

ProPetro Stock Up 6.7%

Shares of NYSE:PUMP traded up $0.3090 during mid-day trading on Friday, reaching $4.9090. 2,491,414 shares of the stock were exchanged, compared to its average volume of 2,420,317. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.07. The company has a market cap of $510.39 million, a P/E ratio of -3.34 and a beta of 1.18. ProPetro Holding Corp. has a one year low of $4.51 and a one year high of $11.17. The stock's 50 day simple moving average is $5.73 and its 200-day simple moving average is $6.26.

ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $326.15 million for the quarter, compared to the consensus estimate of $331.26 million. ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.The firm's quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share. As a group, equities research analysts predict that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PUMP. Piper Sandler dropped their price target on ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Stifel Nicolaus set a $10.00 price target on ProPetro and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. dropped their price target on ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.