PKO BP BANKOWY Universal Pension Society JSC bought a new stake in shares of ProPetro Holding Corp. (NYSE:PUMP – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 683,003 shares of the company’s stock, valued at approximately $6,495,000. ProPetro accounts for about 3.3% of PKO BP BANKOWY Universal Pension Society JSC’s portfolio, making the stock its 8th largest holding. PKO BP BANKOWY Universal Pension Society JSC owned about 0.66% of ProPetro at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sourcerock Group LLC grew its position in shares of ProPetro by 66.4% during the 2nd quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company’s stock valued at $50,198,000 after acquiring an additional 3,355,848 shares during the period. Philosophy Capital Management LLC grew its position in shares of ProPetro by 14.8% during the 3rd quarter. Philosophy Capital Management LLC now owns 4,047,280 shares of the company’s stock valued at $21,208,000 after acquiring an additional 520,327 shares during the period. American Century Companies Inc. grew its position in shares of ProPetro by 5.4% during the 3rd quarter. American Century Companies Inc. now owns 3,748,788 shares of the company’s stock valued at $19,644,000 after acquiring an additional 192,638 shares during the period. VR Advisory Services Ltd grew its position in shares of ProPetro by 213.2% during the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company’s stock valued at $19,280,000 after acquiring an additional 2,504,634 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of ProPetro by 209.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,704,145 shares of the company’s stock valued at $14,170,000 after acquiring an additional 1,830,399 shares during the period. 84.70% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the stock. Piper Sandler increased their target price on shares of ProPetro from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup increased their target price on shares of ProPetro from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. The Goldman Sachs Group started coverage on shares of ProPetro in a research report on Friday, April 10th. They set a “neutral” rating and a $15.00 target price for the company. Bank of America started coverage on shares of ProPetro in a report on Monday, March 30th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, Weiss Ratings downgraded shares of ProPetro from a “sell (d+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.50.
ProPetro Stock Up 3.1%
PUMP opened at $18.00 on Tuesday. The company has a 50 day moving average of $14.98 and a 200 day moving average of $12.09. The company has a market cap of $2.21 billion, a PE ratio of -163.60 and a beta of 0.75. ProPetro Holding Corp. has a 12 month low of $4.51 and a 12 month high of $18.50. 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 (NYSE:PUMP – Get Free Report) 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. The company had revenue of $270.69 million during the quarter, compared to the consensus estimate of $277.49 million. ProPetro had a negative net margin of 1.05% and a negative return on equity of 1.43%. ProPetro’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. On average, sell-side analysts expect that ProPetro Holding Corp. will post -0.1 EPS for the current 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.
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