Y Intercept Hong Kong Ltd Takes Position in ProPetro Holding Corp. $PUMP

Y Intercept Hong Kong Ltd bought a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 141,924 shares of the company’s stock, valued at approximately $2,045,000.

Several other large investors have also added to or reduced their stakes in PUMP. Tudor Investment Corp ET AL acquired a new position in ProPetro in the third quarter valued at approximately $2,280,000. JPMorgan Chase & Co. grew its position in shares of ProPetro by 103.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock worth $8,636,000 after buying an additional 837,776 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of ProPetro in the 4th quarter valued at $3,085,000. First Eagle Investment Management LLC increased its stake in ProPetro by 7.5% in the fourth quarter. First Eagle Investment Management LLC now owns 487,333 shares of the company’s stock valued at $4,635,000 after purchasing an additional 34,000 shares in the last quarter. Finally, GeoSphere Capital Management LLC bought a new position in ProPetro in the fourth quarter worth approximately $2,853,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PUMP. Bank of America initiated coverage on ProPetro in a report on Monday, March 30th. They set a “buy” rating and a $18.00 price objective for the company. Piper Sandler lifted their target price on ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Stifel Nicolaus set a $23.00 price target on ProPetro in a report on Thursday, July 2nd. Citigroup increased their price target on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings cut ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.25.

ProPetro Trading Up 4.6%

Shares of PUMP stock opened at $12.87 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.57 and a current ratio of 1.64. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -117.01 and a beta of 0.72. ProPetro Holding Corp. has a 52-week low of $4.51 and a 52-week high of $18.50. The company has a 50-day simple moving average of $15.46 and a two-hundred day simple moving average of $13.34.

ProPetro (NYSE:PUMP) last posted its earnings results on Thursday, April 30th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.09. The firm had revenue of $270.69 million for 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%. The company’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS. Research analysts anticipate that ProPetro Holding Corp. will post -0.03 EPS for the current fiscal year.

ProPetro 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.