Royce & Associates LP Sells 984,735 Shares of ProPetro Holding Corp. $PUMP

Royce & Associates LP reduced its position in shares of ProPetro Holding Corp. (NYSE:PUMP) by 96.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,050 shares of the company’s stock after selling 984,735 shares during the period. Royce & Associates LP’s holdings in ProPetro were worth $210,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Trek Financial LLC acquired a new stake in ProPetro in the third quarter valued at about $57,000. MQS Management LLC acquired a new stake in shares of ProPetro in the 3rd quarter valued at approximately $58,000. PharVision Advisers LLC acquired a new stake in shares of ProPetro in the 2nd quarter valued at approximately $60,000. Raymond James Financial Inc. bought a new stake in shares of ProPetro during the 2nd quarter valued at approximately $60,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of ProPetro by 70.5% during the 2nd 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 during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Stock Performance

Shares of ProPetro stock opened at $12.42 on Friday. The company has a market cap of $1.52 billion, a P/E ratio of 1,242.00 and a beta of 0.70. The business has a 50-day moving average price of $10.95 and a two-hundred day moving average price of $8.66. The company has a current ratio of 1.29, a quick ratio of 1.24 and a debt-to-equity ratio of 0.13. ProPetro Holding Corp. has a 1-year low of $4.51 and a 1-year high of $13.25.

ProPetro (NYSE:PUMP) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. The firm had revenue of $289.68 million for the quarter, compared to analysts’ expectations of $279.90 million. ProPetro had a return on equity of 0.10% and a net margin of 0.06%.The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. As a group, analysts anticipate that ProPetro Holding Corp. will post 0.25 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays raised their target price on shares of ProPetro from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. Wolfe Research upgraded ProPetro to a “buy” rating and set a $13.00 price target for the company in a research note on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProPetro in a report on Monday, December 29th. JPMorgan Chase & Co. upgraded ProPetro from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $7.00 to $13.00 in a research report on Wednesday, December 10th. Finally, Piper Sandler upped their target price on ProPetro from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ProPetro presently has an average rating of “Hold” and a consensus price target of $12.83.

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.