Hsbc Holdings PLC Sells 72,569 Shares of ProPetro Holding Corp. $PUMP

Hsbc Holdings PLC reduced its stake in ProPetro Holding Corp. (NYSE:PUMP) by 55.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,567 shares of the company’s stock after selling 72,569 shares during the period. Hsbc Holdings PLC’s holdings in ProPetro were worth $543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of ProPetro in the 4th quarter worth about $111,000. Alpine Global Management LLC purchased a new stake in ProPetro during the 4th quarter valued at about $118,000. Invesco Ltd. grew its position in ProPetro by 23.4% during the 4th quarter. Invesco Ltd. now owns 407,031 shares of the company’s stock valued at $3,871,000 after purchasing an additional 77,088 shares during the last quarter. XTX Topco Ltd raised its holdings in ProPetro by 52.1% in the fourth quarter. XTX Topco Ltd now owns 178,056 shares of the company’s stock worth $1,693,000 after buying an additional 60,997 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new position in shares of ProPetro in the fourth quarter worth approximately $1,235,000. 84.70% of the stock is currently owned by institutional investors.

ProPetro Stock Down 5.4%

Shares of ProPetro stock opened at $12.71 on Friday. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -115.51 and a beta of 0.72. The company’s 50 day moving average is $15.02 and its 200 day moving average is $13.50. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month 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.

ProPetro (NYSE:PUMP) last issued its earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $270.69 million for the quarter, compared to analysts’ expectations of $277.49 million. During the same quarter last year, the company posted $0.09 earnings per share. The firm’s quarterly revenue was down 24.6% on a year-over-year basis. Research analysts anticipate that ProPetro Holding Corp. will post -0.03 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PUMP shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $16.00 price target on shares of ProPetro in a report on Wednesday, June 3rd. Piper Sandler boosted 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. Stifel Nicolaus set a $23.00 price objective on ProPetro in a research report on Thursday, July 2nd. Citigroup increased their target price on ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Bank of America initiated coverage on ProPetro in a report on Monday, March 30th. They issued a “buy” rating and a $18.00 target price for the company. Seven equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.25.

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.