OP Asset Management Ltd Invests $1.80 Million in ProPetro Holding Corp. $PUMP

OP Asset Management Ltd purchased a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 124,611 shares of the company’s stock, valued at approximately $1,796,000.

Several other hedge funds have also recently bought and sold shares of the business. Aster Capital Management DIFC Ltd acquired a new stake in ProPetro during the 4th quarter worth about $56,000. Dark Forest Capital Management LP purchased a new stake in shares of ProPetro in the third quarter worth approximately $57,000. Raymond James Financial Inc. acquired a new stake in shares of ProPetro during the second quarter worth approximately $60,000. Tower Research Capital LLC TRC grew its position in ProPetro by 70.5% during the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after purchasing an additional 4,461 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in ProPetro during the second quarter valued at approximately $102,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PUMP. Odeon Capital Group assumed coverage on shares of ProPetro in a research note on Thursday, May 28th. They set a “buy” rating for the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $16.00 price target on shares of ProPetro in a research note on Wednesday, June 3rd. Citigroup increased their price objective on ProPetro from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Piper Sandler lifted their price objective on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Weiss Ratings downgraded ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $16.62.

ProPetro Stock Down 0.5%

ProPetro stock opened at $14.72 on Monday. The company has a market capitalization of $1.81 billion, a P/E ratio of -133.84 and a beta of 0.70. The firm’s fifty day simple moving average is $15.86 and its 200-day simple moving average is $13.18. The company has a current ratio of 1.64, a quick ratio of 1.57 and a debt-to-equity ratio of 0.08. ProPetro Holding Corp. has a 1-year low of $4.51 and a 1-year high of $18.50.

ProPetro (NYSE:PUMP) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The firm had revenue of $270.69 million during the quarter, compared to analysts’ expectations of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. ProPetro’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. Sell-side analysts forecast that ProPetro Holding Corp. will post -0.08 earnings per share for the current fiscal year.

ProPetro Company 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.