Fisher Asset Management LLC Reduces Stake in ProPetro Holding Corp. $PUMP

Fisher Asset Management LLC lowered its position in ProPetro Holding Corp. (NYSE:PUMP) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,495,676 shares of the company’s stock after selling 118,965 shares during the period. Fisher Asset Management LLC’s holdings in ProPetro were worth $14,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PUMP. Sourcerock Group LLC boosted its position in ProPetro by 66.4% in 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 last quarter. VR Advisory Services Ltd boosted its position in ProPetro by 213.2% in the third quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after buying an additional 2,504,634 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in ProPetro by 209.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock valued at $14,170,000 after buying an additional 1,830,399 shares during the last quarter. Millennium Management LLC boosted its position in ProPetro by 382.7% in the third quarter. Millennium Management LLC now owns 2,215,896 shares of the company’s stock valued at $11,611,000 after buying an additional 1,756,812 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in ProPetro by 103.4% in the third quarter. JPMorgan Chase & Co. now owns 1,648,055 shares of the company’s stock valued at $8,636,000 after buying an additional 837,776 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

ProPetro Trading Down 6.5%

ProPetro stock opened at $15.78 on Thursday. 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 12 month low of $4.51 and a 12 month high of $18.50. The stock’s 50 day simple moving average is $15.50 and its two-hundred day simple moving average is $12.39. The firm has a market cap of $1.93 billion, a PE ratio of -143.44 and a beta of 0.75.

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

Analysts Set New Price Targets

A number of brokerages recently commented on PUMP. Barclays upgraded ProPetro from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $14.00 to $23.00 in a research report on Thursday, May 7th. The Goldman Sachs Group started coverage on ProPetro in a research report on Friday, April 10th. They issued a “neutral” rating and a $15.00 target price on the stock. Citigroup upped their price objective on ProPetro from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Finally, Piper Sandler upped their price objective on ProPetro from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Seven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ProPetro has a consensus rating of “Moderate Buy” and an average price target of $16.50.

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.