Jefferies Financial Group Inc. Purchases New Position in ProPetro Holding Corp. $PUMP

Jefferies Financial Group Inc. purchased a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 324,400 shares of the company’s stock, valued at approximately $3,085,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PUMP. Sourcerock Group LLC increased its position in shares of ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after buying an additional 3,355,848 shares during the period. VR Advisory Services Ltd grew its holdings in ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock worth $19,280,000 after purchasing an additional 2,504,634 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in ProPetro by 209.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock worth $14,170,000 after purchasing an additional 1,830,399 shares during the period. Millennium Management LLC grew its holdings in ProPetro by 382.7% in the third quarter. Millennium Management LLC now owns 2,215,896 shares of the company’s stock worth $11,611,000 after purchasing an additional 1,756,812 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in ProPetro by 103.4% in the third quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock worth $8,636,000 after purchasing an additional 837,776 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PUMP. Bank of America began coverage on shares of ProPetro in a report on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective on the stock. Piper Sandler upped their price objective on shares of ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Weiss Ratings cut shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Citigroup increased their price target on shares of ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group started coverage on shares of ProPetro in a report on Friday, April 10th. They set a “neutral” rating and a $15.00 price target on the stock. Seven 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.50.

ProPetro Trading Down 0.5%

NYSE:PUMP opened at $16.87 on Wednesday. The company’s 50 day moving average price is $15.46 and its 200-day moving average price is $12.36. ProPetro Holding Corp. has a 52 week low of $4.51 and a 52 week high of $18.50. The company has a quick ratio of 1.57, a current ratio of 1.64 and a debt-to-equity ratio of 0.08. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of -153.36 and a beta of 0.75.

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