American Century Companies Inc. Buys 212,925 Shares of ProPetro Holding Corp. $PUMP

Key Points

• American Century Companies Inc. increased its stake in ProPetro Holding Corp. by 6.6%, owning a total of 3,449,060 shares worth $25.35 million as of its latest SEC filing.
• Research firms have mixed opinions on ProPetro, with price targets ranging from $6.00 to $10.00, indicating a consensus "Hold" rating.
• ProPetro reported a loss of ($0.07) earnings per share for the most recent quarter, failing to meet analyst expectations, with revenue down by 9.2% compared to the previous year.

American Century Companies Inc. raised its stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,449,060 shares of the company's stock after buying an additional 212,925 shares during the period. American Century Companies Inc. owned about 3.32% of ProPetro worth $25,351,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of ProPetro during the 1st quarter valued at $11,757,000. Sourcerock Group LLC acquired a new stake in shares of ProPetro during the 4th quarter valued at $14,079,000. Charles Schwab Investment Management Inc. raised its holdings in shares of ProPetro by 6.1% during 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 in the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of ProPetro by 2.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,034,873 shares of the company's stock valued at $9,655,000 after purchasing an additional 27,086 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of ProPetro by 10.3% during the 1st quarter. Royce & Associates LP now owns 1,027,265 shares of the company's stock valued at $7,550,000 after purchasing an additional 96,126 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company's stock.

ProPetro Stock Performance

PUMP traded up $0.05 during trading on Thursday, hitting $4.95. The stock had a trading volume of 453,996 shares, compared to its average volume of 1,801,764. The firm has a market cap of $514.13 million, a PE ratio of -3.37 and a beta of 1.18. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month 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 50 day simple moving average of $5.62 and a 200-day simple moving average of $6.20.

ProPetro (NYSE:PUMP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.10). The firm had revenue of $326.15 million during 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 business's revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) EPS. Analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. 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. Piper Sandler cut their price target on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.80.

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.