Stanley Laman Group Ltd. Acquires 102,491 Shares of ProPetro Holding Corp. $PUMP

Key Points

• Stanley Laman Group Ltd. increased its stake in ProPetro Holding Corp. by 25.3% during the 2nd quarter, owning a total of 507,261 shares valued at approximately $3.03 million.
• ProPetro's stock has experienced fluctuations, with a current price of $5.56, while its 12-month low and high stand at $4.51 and $11.17 respectively.
• Analysts have varying opinions on ProPetro, with Zacks recently downgrading the stock to a "strong sell" while Stifel Nicolaus set a higher target price of $10.00 and rated it a "buy."

Stanley Laman Group Ltd. grew its holdings in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 25.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 507,261 shares of the company's stock after purchasing an additional 102,491 shares during the quarter. Stanley Laman Group Ltd. owned approximately 0.49% of ProPetro worth $3,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP purchased a new position in shares of ProPetro during the 1st quarter worth $25,000. Headlands Technologies LLC purchased a new stake in shares of ProPetro during the first quarter worth about $32,000. State of Wyoming purchased a new stake in shares of ProPetro during the first quarter worth about $48,000. Aigen Investment Management LP purchased a new position in ProPetro during the 1st quarter valued at approximately $80,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in ProPetro during the 2nd quarter valued at approximately $74,000. Hedge funds and other institutional investors own 84.70% of the company's stock.

ProPetro Stock Performance

NYSE PUMP opened at $5.56 on Friday. The stock has a 50-day moving average of $5.03 and a 200 day moving average of $5.49. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $11.17. The stock has a market capitalization of $578.07 million, a price-to-earnings ratio of -3.78 and a beta of 1.00. 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) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). ProPetro had a negative net margin of 11.10% and a positive return on equity of 1.84%. The firm had revenue of $326.15 million for the quarter, compared to analyst estimates of $331.26 million. During the same period in the previous year, the company earned ($0.03) EPS. ProPetro's revenue was down 9.2% compared to the same quarter last year. Sell-side analysts anticipate that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Zacks Research cut ProPetro from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Weiss Ratings reiterated a "sell (d)" rating on shares of ProPetro in a research note on Wednesday, October 8th. Barclays reiterated an "equal weight" rating and set a $5.00 price target (down previously from $6.00) on shares of ProPetro in a research note on Monday. Finally, Piper Sandler decreased their price objective on ProPetro from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, ProPetro presently has an average rating of "Reduce" and a consensus target price of $6.80.

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.

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