Teza Capital Management LLC Takes $141,000 Position in ProPetro Holding Corp. $PUMP

Teza Capital Management LLC purchased a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 19,229 shares of the company’s stock, valued at approximately $141,000.

A number of other hedge funds also recently made changes to their positions in PUMP. Raymond James Financial Inc. bought a new stake in ProPetro during the fourth quarter worth approximately $94,000. Price T Rowe Associates Inc. MD raised its holdings in ProPetro by 16.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 34,702 shares of the company’s stock worth $324,000 after purchasing an additional 4,996 shares in the last quarter. Jane Street Group LLC raised its holdings in ProPetro by 11.0% during the fourth quarter. Jane Street Group LLC now owns 221,175 shares of the company’s stock worth $2,064,000 after purchasing an additional 21,980 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in ProPetro by 18.4% during the fourth quarter. Ameriprise Financial Inc. now owns 448,404 shares of the company’s stock worth $4,184,000 after purchasing an additional 69,718 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in ProPetro by 129.3% during the fourth quarter. BNP Paribas Financial Markets now owns 249,136 shares of the company’s stock worth $2,324,000 after purchasing an additional 140,476 shares in the last quarter. Institutional investors own 84.70% of the company’s stock.

ProPetro Trading Down 2.4%

ProPetro stock opened at $4.55 on Wednesday. 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 market cap of $473.06 million, a price-to-earnings ratio of -3.10 and a beta of 1.13. ProPetro Holding Corp. has a 1 year low of $4.51 and a 1 year high of $11.17. The firm’s 50 day moving average price is $5.39 and its two-hundred day moving average price is $5.93.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.10). The business had revenue of $326.15 million during the quarter, compared to analyst estimates of $331.26 million. ProPetro had a positive return on equity of 1.84% and a negative net margin of 11.10%.The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) EPS. On average, research analysts predict that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PUMP shares. Stifel Nicolaus set a $10.00 target price on ProPetro and gave the stock a “buy” rating in a report on Wednesday, July 16th. JPMorgan Chase & Co. dropped their target price on ProPetro from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Zacks Research cut ProPetro from a “hold” rating to a “strong sell” rating in a report on Monday, September 1st. Citigroup dropped their target price on ProPetro from $6.50 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Piper Sandler decreased their price target 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. Two investment 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. According to data from MarketBeat, ProPetro presently has an average rating of “Hold” and a consensus target price 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.