FourThought Financial Partners LLC Invests $309,000 in ProPetro Holding Corp. $PUMP

FourThought Financial Partners LLC acquired a new position in ProPetro Holding Corp. (NYSE:PUMP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,990 shares of the company’s stock, valued at approximately $309,000. FourThought Financial Partners LLC owned about 0.06% of ProPetro at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in ProPetro by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company’s stock worth $379,000 after acquiring an additional 2,230 shares during the period. Millennium Management LLC increased its stake in shares of ProPetro by 44.6% in the 1st quarter. Millennium Management LLC now owns 735,731 shares of the company’s stock worth $5,408,000 after purchasing an additional 226,914 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of ProPetro by 16,264.8% in the 1st quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company’s stock worth $198,000 after purchasing an additional 26,837 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in ProPetro by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company’s stock worth $4,483,000 after purchasing an additional 21,519 shares during the period. Finally, Caxton Associates LLP bought a new position in ProPetro in the 1st quarter worth $272,000. 84.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ProPetro Price Performance

NYSE:PUMP opened at $13.09 on Thursday. The business’s 50-day simple moving average is $11.14 and its two-hundred day simple moving average is $8.85. ProPetro Holding Corp. has a 52 week low of $4.51 and a 52 week high of $13.25. The stock has a market cap of $1.60 billion, a PE ratio of 1,309.10 and a beta of 0.70. The company has a quick ratio of 1.24, a current ratio of 1.29 and a debt-to-equity ratio of 0.13.

ProPetro (NYSE:PUMP) last released its earnings results on Wednesday, February 18th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. The firm had revenue of $289.68 million during 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 firm’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) earnings per share. As a group, analysts forecast that ProPetro Holding Corp. will post 0.25 EPS for the current fiscal year.

About ProPetro

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.