Vanguard Group Inc. Has $74.76 Million Position in ProPetro Holding Corp. $PUMP

Key Points

• Vanguard Group Inc. decreased its holdings in ProPetro by 3.9%, owning 10,171,166 shares worth approximately $74.76 million after the sale.
• ProPetro's stock price has experienced volatility, with a fifty-two week low of $4.51 and a high of $11.17, currently trading at $4.91.
• Recent analyst ratings show mixed sentiments, with Piper Sandler lowering their target price to $6.00 and Stifel Nicolaus maintaining a "buy" rating with a target of $10.00.

Vanguard Group Inc. reduced its position in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,171,166 shares of the company's stock after selling 412,560 shares during the period. Vanguard Group Inc. owned 9.80% of ProPetro worth $74,758,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PUMP. MetLife Investment Management LLC raised its holdings 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 position in shares of ProPetro by 14.0% during the first quarter. New York State Common Retirement Fund now owns 26,796 shares of the company's stock worth $197,000 after purchasing an additional 3,298 shares in the last quarter. Mariner LLC increased its stake 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 buying an additional 4,304 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of ProPetro by 16.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,702 shares of the company's stock worth $324,000 after buying an additional 4,996 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of ProPetro by 101.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company's stock worth $98,000 after buying an additional 5,270 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

ProPetro Stock Performance

ProPetro stock traded up $0.08 during trading hours on Friday, reaching $5.11. 1,614,777 shares of the company were exchanged, compared to its average volume of 1,971,549. The firm has a market cap of $530.77 million, a price-to-earnings ratio of -3.47 and a beta of 1.18. 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 50-day moving average of $5.56 and a 200 day moving average of $6.14. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $11.17.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $326.15 million during the quarter, compared to analyst estimates of $331.26 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The company's revenue was down 9.2% on a year-over-year basis. As a group, research analysts anticipate that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PUMP. JPMorgan Chase & Co. lowered their target price on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Piper Sandler reduced their price objective 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 target price on shares of ProPetro and gave the stock a "buy" rating in a report on Wednesday, July 16th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $8.80.

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.