Roubaix Capital LLC bought a new position in shares of ProPetro Holding Corp. (NYSE:PUMP – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 243,257 shares of the company’s stock, valued at approximately $3,505,000. Roubaix Capital LLC owned about 0.20% of ProPetro at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new stake in ProPetro in the fourth quarter worth about $56,000. Dark Forest Capital Management LP purchased a new stake in shares of ProPetro during the third quarter worth about $57,000. Raymond James Financial Inc. acquired a new position in shares of ProPetro during the second quarter valued at about $60,000. Tower Research Capital LLC TRC increased its holdings in shares of ProPetro by 70.5% during the second quarter. Tower Research Capital LLC TRC now owns 10,789 shares of the company’s stock valued at $64,000 after acquiring an additional 4,461 shares in the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in shares of ProPetro in the 2nd quarter valued at approximately $102,000. 84.70% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently commented on PUMP. Stifel Nicolaus set a $23.00 target price on shares of ProPetro in a research note on Thursday, July 2nd. Barclays upgraded shares of ProPetro from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $14.00 to $23.00 in a research note on Thursday, May 7th. Citigroup raised their price target on shares of ProPetro from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Bank of America started coverage on shares of ProPetro in a research note on Monday, March 30th. They set a “buy” rating and a $18.00 price objective for the company. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $16.00 target price on shares of ProPetro in a research report on Wednesday, June 3rd. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.
ProPetro Trading Up 2.1%
ProPetro stock opened at $13.01 on Friday. 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 Holding Corp. has a 52 week low of $4.51 and a 52 week high of $18.50. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -118.29 and a beta of 0.72. The stock has a 50-day moving average price of $14.97 and a 200 day moving average price of $13.50.
ProPetro (NYSE:PUMP – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.03) earnings per share 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 the consensus estimate of $277.49 million. During the same quarter in the prior year, the company earned $0.09 EPS. ProPetro’s quarterly revenue was down 24.6% on a year-over-year basis. Sell-side analysts anticipate that ProPetro Holding Corp. will post -0.02 EPS for the current year.
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.
Read More
- Five stocks we like better than ProPetro
- Netflix May Be Cheap Enough to Tempt Buyers After Earnings Drop
- Delta vs. United: Which Airline Is Better Built for Higher Fuel Costs?
- The Market Sold Alcoa After Earnings—But It May Be Missing the Real Story
- Why Intuitive Surgical’s Strong Quarter Still Spooked Investors
Receive News & Ratings for ProPetro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProPetro and related companies with MarketBeat.com's FREE daily email newsletter.
