Uniplan Investment Counsel Inc. Purchases 138,442 Shares of ProPetro Holding Corp. $PUMP

Key Points

• Uniplan Investment Counsel Inc. increased its holdings in ProPetro Holding Corp. by 31.7%, owning 574,500 shares worth $4.22 million after acquiring 138,442 shares in the first quarter.
• ProPetro's recent earnings report showed a loss of $0.07 per share, failing to meet analysts' estimates, and its revenue fell by 9.2% year-over-year, totaling $326.15 million.
• Following analyst evaluations, Piper Sandler reduced ProPetro’s price target from $7.00 to $6.00, while overall analyst consensus rates the stock as a “Hold” with a target price of $8.80.

Uniplan Investment Counsel Inc. raised its position in ProPetro Holding Corp. (NYSE:PUMP - Free Report) by 31.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 574,500 shares of the company's stock after purchasing an additional 138,442 shares during the period. Uniplan Investment Counsel Inc. owned 0.55% of ProPetro worth $4,223,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quarry LP bought a new position in ProPetro in the 1st quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in shares of ProPetro in the 1st quarter valued at about $32,000. State of Wyoming bought a new stake in shares of ProPetro during the 1st quarter valued at about $48,000. Aigen Investment Management LP bought a new stake in shares of ProPetro during the 1st quarter valued at about $80,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of ProPetro during the first quarter worth about $89,000. 84.70% of the stock is owned by institutional investors.

ProPetro Trading Down 4.2%

PUMP traded down $0.21 on Friday, hitting $4.67. 1,382,223 shares of the company were exchanged, compared to its average volume of 1,826,134. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42. The firm has a fifty day simple moving average of $5.33 and a two-hundred day simple moving average of $5.89. The stock has a market capitalization of $485.02 million, a PE ratio of -3.17 and a beta of 1.13. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $11.17.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.10). The firm had revenue of $326.15 million during the quarter, compared to the consensus estimate of $331.26 million. ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.ProPetro's revenue was down 9.2% on a year-over-year basis. During the same period last year, the business earned ($0.03) EPS. Sell-side analysts expect that ProPetro Holding Corp. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

PUMP has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $10.00 target price on shares of ProPetro and gave the company a "buy" rating in a research note on Wednesday, July 16th. Piper Sandler lowered their price objective on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Citigroup cut their target price on shares of ProPetro from $6.50 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday. Zacks Research cut ProPetro from a "hold" rating to a "strong sell" rating in a research note on Monday, September 1st. Finally, JPMorgan Chase & Co. dropped 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. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $7.80.

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.