VR Advisory Services Ltd Buys Shares of 1,174,725 ProPetro Holding Corp. $PUMP

Key Points

• VR Advisory Services Ltd acquired a stake in ProPetro Holding Corp., purchasing 1,174,725 shares valued at approximately $8.63 million, making it the company's 8th largest holding.
• ProPetro's stock recently faced mixed analyst ratings, with a consensus target price of $8.80 and ratings ranging from "buy" to "neutral" from various firms.
• ProPetro reported a negative earnings per share of ($0.07) for the last quarter, which was below analyst expectations, and its revenue decreased by 9.2% year-over-year.

VR Advisory Services Ltd acquired a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,174,725 shares of the company's stock, valued at approximately $8,634,000. ProPetro comprises about 2.3% of VR Advisory Services Ltd's investment portfolio, making the stock its 8th biggest position. VR Advisory Services Ltd owned approximately 1.13% of ProPetro as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of PUMP. Cubist Systematic Strategies LLC purchased a new stake in shares of ProPetro in the first quarter valued at about $3,348,000. Quarry LP purchased a new stake in shares of ProPetro in the first quarter valued at about $25,000. State of Wyoming purchased a new stake in shares of ProPetro in the first quarter valued at about $48,000. Trexquant Investment LP purchased a new stake in shares of ProPetro in the first quarter valued at about $118,000. Finally, AlphaQuest LLC raised its holdings in shares of ProPetro by 1,959.9% in the first quarter. AlphaQuest LLC now owns 66,122 shares of the company's stock valued at $486,000 after purchasing an additional 62,912 shares during the last quarter. 84.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Piper Sandler lowered their target price on shares of ProPetro from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Stifel Nicolaus set a $10.00 price objective on shares of ProPetro and gave the stock a "buy" rating in a report on Wednesday, July 16th. Zacks Research downgraded shares of ProPetro from a "hold" rating to a "strong sell" rating in a report on Monday, September 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $8.80.

ProPetro Price Performance

Shares of PUMP stock traded down $0.19 during trading hours on Friday, reaching $4.76. The stock had a trading volume of 1,616,413 shares, compared to its average volume of 1,706,572. The stock's fifty day simple moving average is $5.45 and its 200 day simple moving average is $6.01. 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 Holding Corp. has a 12 month low of $4.51 and a 12 month high of $11.17. The firm has a market capitalization of $494.38 million, a PE ratio of -3.23 and a beta of 1.13.

ProPetro (NYSE:PUMP - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $331.26 million. During the same quarter last year, the business posted ($0.03) earnings per share. ProPetro's revenue was down 9.2% compared to the same quarter last year. On average, equities research analysts predict that ProPetro Holding Corp. will post 0.25 EPS for the current 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.