ProPetro Holding Corp. $PUMP Shares Sold by Vanguard Group Inc.

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. trimmed its position in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the 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 about 9.80% of ProPetro worth $74,758,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PUMP. Sourcerock Group LLC purchased a new position in ProPetro in the fourth quarter worth about $14,079,000. Pacer Advisors Inc. purchased a new position in ProPetro in the first quarter worth about $7,401,000. Balyasny Asset Management L.P. purchased a new position in ProPetro in the fourth quarter worth about $4,934,000. Millennium Management LLC boosted its position in ProPetro by 359.2% in the fourth quarter. Millennium Management LLC now owns 508,817 shares of the company's stock worth $4,747,000 after purchasing an additional 398,021 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of ProPetro by 107.9% during the 4th quarter. Bank of America Corp DE now owns 470,406 shares of the company's stock valued at $4,389,000 after buying an additional 244,135 shares in the last quarter. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PUMP has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Piper Sandler lowered their price target on ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Finally, Stifel Nicolaus set a $10.00 price objective on ProPetro and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $8.80.

ProPetro Stock Down 2.3%

Shares of NYSE PUMP traded down $0.12 during mid-day trading on Tuesday, reaching $4.85. 1,904,356 shares of the company were exchanged, compared to its average volume of 2,431,309. 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 stock has a market cap of $503.73 million, a price-to-earnings ratio of -3.30 and a beta of 1.18. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $11.17. The firm has a 50-day moving average of $5.66 and a 200 day moving average of $6.20.

ProPetro (NYSE:PUMP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $331.26 million. During the same quarter last year, the company earned ($0.03) earnings per share. The company's revenue for the quarter was down 9.2% compared to the same quarter last year. On average, research analysts expect that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

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.