Sei Investments Co. Acquires 284,109 Shares of ProPetro Holding Corp. $PUMP

Key Points

• Sei Investments increased its ProPetro stake by 113.7% in the first quarter, purchasing 284,109 additional shares and bringing its total holdings to 534,059 shares, valued at approximately $7.7 million.
• Institutional investors own 84.7% of ProPetro, with several firms—including SIR Capital Management, First Eagle Investment Management and Y Intercept—recently adding to their positions.
• ProPetro reported a quarterly loss of $0.07 per share, missing analyst expectations of a $0.01 loss, while revenue reached $305.8 million, up slightly from estimates but down 6.3% year over year. Analysts maintain a consensus “Moderate Buy” rating with an $18 target price.

Sei Investments Co. increased its holdings in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 113.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 534,059 shares of the company's stock after purchasing an additional 284,109 shares during the period. Sei Investments Co. owned approximately 0.44% of ProPetro worth $7,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of ProPetro in the 1st quarter worth approximately $2,045,000. Tudor Investment Corp ET AL acquired a new stake in ProPetro in the 3rd quarter valued at $2,280,000. Jefferies Financial Group Inc. acquired a new stake in ProPetro in the 4th quarter valued at $3,085,000. First Eagle Investment Management LLC grew its position in ProPetro by 7.5% in the fourth quarter. First Eagle Investment Management LLC now owns 487,333 shares of the company's stock valued at $4,635,000 after acquiring an additional 34,000 shares during the period. Finally, SIR Capital Management L.P. grew its position in ProPetro by 1,374.3% in the fourth quarter. SIR Capital Management L.P. now owns 1,346,074 shares of the company's stock valued at $12,801,000 after acquiring an additional 1,254,774 shares during the period. Institutional investors own 84.70% of the company's stock.

ProPetro Trading Up 0.0%

Shares of PUMP opened at $11.10 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.00 and a current ratio of 4.09. The company has a market cap of $1.36 billion, a price-to-earnings ratio of -100.93 and a beta of 0.77. The stock has a fifty day moving average price of $13.90 and a two-hundred day moving average price of $13.69. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $18.50.

ProPetro (NYSE:PUMP - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.06). ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The business had revenue of $305.81 million for the quarter, compared to the consensus estimate of $304.48 million. During the same quarter in the previous year, the company posted ($0.07) EPS. ProPetro's revenue for the quarter was down 6.3% on a year-over-year basis. Analysts predict that ProPetro Holding Corp. will post -0.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PUMP. Citigroup lifted their price objective on ProPetro from $16.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Stifel Nicolaus set a $23.00 target price on shares of ProPetro in a report on Thursday, July 2nd. The Goldman Sachs Group reiterated a "neutral" rating and set a $16.00 target price on shares of ProPetro in a research report on Wednesday, June 3rd. Odeon Capital Group started coverage on shares of ProPetro in a report on Thursday, May 28th. They set a "buy" rating for the company. Finally, Weiss Ratings lowered shares of ProPetro from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

About ProPetro

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients' development targets across unconventional plays.

The company's core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.