Quantbot Technologies LP Has $1.11 Million Stock Holdings in ProPetro Holding Corp. $PUMP

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 increased its stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 466.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,280 shares of the company's stock after acquiring 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 hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of ProPetro in the 1st quarter worth $32,000. Raymond James Financial Inc. acquired a new position in shares of ProPetro in the 4th quarter worth $94,000. Tower Research Capital LLC TRC grew its holdings in shares of ProPetro by 101.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company's stock worth $98,000 after acquiring an additional 5,270 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of ProPetro in the 1st quarter worth $80,000. Finally, Syon Capital LLC acquired a new position in shares of ProPetro in the 4th quarter worth $108,000. 84.70% of the stock is currently owned by institutional investors and hedge funds.

ProPetro Stock Up 1.5%

Shares of NYSE:PUMP traded up $0.08 on Friday, reaching $5.11. The company had a trading volume of 1,614,777 shares, compared to its average volume of 1,971,549. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $11.17. The stock has a 50-day moving average price of $5.56 and a 200 day moving average price of $6.14. The stock has a market capitalization of $530.77 million, a P/E ratio of -3.47 and a beta of 1.18. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.07.

ProPetro (NYSE:PUMP - Get Free Report) last posted its quarterly earnings data 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 period in the prior year, the firm posted ($0.03) EPS. ProPetro's revenue for the quarter was down 9.2% on a year-over-year basis. On average, equities analysts expect that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PUMP. JPMorgan Chase & Co. decreased 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. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Piper Sandler lowered their target price on ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, August 14th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, ProPetro has a consensus rating of "Hold" and a consensus 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.