Royce & Associates LP Grows Stock Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Key Points

• Royce & Associates LP increased its stake in ProPetro Holding Corp. by 10.3% during the first quarter, now owning approximately 1,027,265 shares valued at $7.55 million.
• Multiple institutional investors, including Raymond James Financial Inc. and Tower Research Capital LLC, also increased their positions in ProPetro during the recent fourth quarter.
• ProPetro has a consensus rating of "Hold" among analysts, with an average price target of $9.00, indicating mixed outlooks on the stock's performance.

Royce & Associates LP increased its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,027,265 shares of the company's stock after purchasing an additional 96,126 shares during the period. Royce & Associates LP owned approximately 0.99% of ProPetro worth $7,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in ProPetro in the fourth quarter valued at approximately $94,000. Tower Research Capital LLC TRC increased its holdings in shares of ProPetro by 101.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,452 shares of the company's stock valued at $98,000 after purchasing an additional 5,270 shares in the last quarter. Syon Capital LLC acquired a new position in shares of ProPetro in the 4th quarter valued at $108,000. Freestone Grove Partners LP purchased a new stake in ProPetro during the fourth quarter worth $112,000. Finally, Teacher Retirement System of Texas purchased a new stake in ProPetro during the first quarter worth $89,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler started coverage on shares of ProPetro in a report on Monday, July 14th. They issued a "neutral" rating and a $7.00 price objective for the company. JPMorgan Chase & Co. cut their price target on ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Finally, Stifel Nicolaus set a $10.00 price target on ProPetro and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, ProPetro has a consensus rating of "Hold" and an average price target of $9.00.

ProPetro Stock Performance

PUMP opened at $5.99 on Friday. The firm's fifty day simple moving average is $6.03 and its two-hundred day simple moving average is $6.96. ProPetro Holding Corp. has a 52-week low of $4.61 and a 52-week high of $11.17. The company has a market cap of $622.11 million, a price-to-earnings ratio of -4.19 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 0.05.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. ProPetro had a negative net margin of 10.60% and a positive return on equity of 2.16%. The firm had revenue of $359.42 million during the quarter, compared to the consensus estimate of $344.36 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The company's revenue for the quarter was down 11.4% on a year-over-year basis. Equities analysts anticipate that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal 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.

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