Tudor Investment Corp ET AL Acquires New Shares in ProPetro Holding Corp. $PUMP

Key Points

• Tudor Investment Corp. et al. acquired a new stake of 435,103 shares (about 0.42% of the company) in ProPetro during Q3, valued at roughly $2.28 million, and institutions now own about 84.70% of the stock.
• ProPetro beat EPS expectations, reporting $0.01 per share versus a -$0.13 consensus and revenue of $289.68 million (above estimates) despite revenue being down 9.6% year-over-year.
• Analyst sentiment is mixed with a MarketBeat consensus of "Hold" and an average price target of $14, while individual reports range from a sell to buys — notable targets include Piper Sandler $17 and Bank of America $18.

Tudor Investment Corp ET AL acquired a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 435,103 shares of the company's stock, valued at approximately $2,280,000. Tudor Investment Corp ET AL owned approximately 0.42% of ProPetro at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mutual Advisors LLC raised its stake in ProPetro by 1.2% during the 3rd quarter. Mutual Advisors LLC now owns 164,822 shares of the company's stock valued at $864,000 after buying an additional 2,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in ProPetro by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company's stock valued at $379,000 after buying an additional 2,230 shares during the last quarter. Profund Advisors LLC raised its stake in ProPetro by 14.2% during the 3rd quarter. Profund Advisors LLC now owns 18,958 shares of the company's stock valued at $99,000 after buying an additional 2,355 shares during the last quarter. Jane Street Group LLC raised its stake in ProPetro by 1.4% during the 1st quarter. Jane Street Group LLC now owns 224,275 shares of the company's stock valued at $1,648,000 after buying an additional 3,100 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in ProPetro by 6.5% during the 2nd quarter. Lazard Asset Management LLC now owns 61,236 shares of the company's stock valued at $364,000 after buying an additional 3,732 shares during the last quarter. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

ProPetro Trading Up 1.1%

Shares of PUMP stock opened at $13.80 on Friday. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $15.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.24 and a current ratio of 1.29. The firm has a market capitalization of $1.69 billion, a PE ratio of 1,379.50 and a beta of 0.62. The stock has a fifty day simple moving average of $12.90 and a two-hundred day simple moving average of $10.30.

ProPetro (NYSE:PUMP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.14. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The business had revenue of $289.68 million during the quarter, compared to analyst estimates of $279.90 million. During the same quarter in the prior year, the business posted ($0.17) EPS. ProPetro's revenue for the quarter was down 9.6% compared to the same quarter last year. On average, analysts predict that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

PUMP has been the subject of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of ProPetro in a research note on Monday, December 29th. Piper Sandler raised their target price on ProPetro from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Wednesday, January 14th. The Goldman Sachs Group began coverage on ProPetro in a report on Friday. They issued a "neutral" rating and a $15.00 target price on the stock. Barclays raised their target price on ProPetro from $12.00 to $14.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Bank of America began coverage on ProPetro in a report on Monday, March 30th. They issued a "buy" rating and a $18.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ProPetro presently has a consensus rating of "Hold" and an average price target of $14.00.

ProPetro Profile

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.

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