VR Advisory Services Ltd Takes Position in 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 purchased a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,174,725 shares of the company's stock, valued at approximately $8,634,000. ProPetro accounts for approximately 2.3% of VR Advisory Services Ltd's holdings, making the stock its 8th biggest holding. VR Advisory Services Ltd owned about 1.13% of ProPetro at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

PUMP has been the subject of several research analyst reports. 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 research note 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. Finally, JPMorgan Chase & Co. lowered their price objective on shares of ProPetro from $8.00 to $7.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $8.80.

ProPetro Stock Up 1.5%

Shares of PUMP opened at $5.11 on Monday. The company's 50-day simple moving average is $5.56 and its 200-day simple moving average is $6.11. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.35 and a current ratio of 1.42. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $11.17. The stock has a market capitalization of $530.76 million, a PE ratio of -3.47 and a beta of 1.13.

ProPetro (NYSE:PUMP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported ($0.07) earnings per share 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 business had revenue of $326.15 million during the quarter, compared to analyst estimates of $331.26 million. During the same quarter last year, the firm posted ($0.03) EPS. The company's revenue for the quarter was down 9.2% on a year-over-year basis. Analysts forecast that ProPetro Holding Corp. will post 0.25 earnings per share for the current fiscal year.

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.

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