ProPetro Holding Corp. $PUMP Shares Purchased by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP raised its stake in ProPetro Holding Corp. by 466.1% during Q1, owning 151,280 shares valued at approximately $1.1 million.
• ProPetro reported earnings per share of -$0.07 for the latest quarter, missing analyst expectations, with revenues down 9.2% year-over-year.
• Analysts have mixed views on ProPetro, with a consensus rating of "Hold" and an average price target of $8.80, down from previous targets of $8.00 and $10.00.

Quantbot Technologies LP boosted its holdings in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 466.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 151,280 shares of the company's stock after buying an additional 124,559 shares during the quarter. Quantbot Technologies LP owned approximately 0.15% of ProPetro worth $1,112,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in ProPetro in the first quarter valued at $32,000. Aigen Investment Management LP purchased a new position in ProPetro in the first quarter valued at $80,000. Teacher Retirement System of Texas purchased a new position in ProPetro in the first quarter valued at $89,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in ProPetro in the first quarter valued at $91,000. Finally, Raymond James Financial Inc. purchased a new position in ProPetro in the fourth quarter valued at $94,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

ProPetro Stock Performance

Shares of PUMP traded down $0.12 during mid-day trading on Tuesday, hitting $4.85. 1,904,356 shares of the company's stock were exchanged, 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 firm has a market capitalization of $503.73 million, a P/E ratio of -3.30 and a beta of 1.18. The business's 50 day moving average is $5.66 and its two-hundred day moving average is $6.20. The company has a current ratio of 1.42, a quick ratio of 1.35 and a debt-to-equity ratio of 0.07.

ProPetro (NYSE:PUMP - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share 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 for the quarter, compared to analyst estimates of $331.26 million. During the same quarter last year, the company posted ($0.03) EPS. ProPetro's quarterly revenue was down 9.2% on a year-over-year basis. On average, equities analysts expect that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Wall Street Analyst Weigh In

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